MakeMyTrip (MMYT) Downgraded by BidaskClub

MakeMyTrip (NASDAQ:MMYT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts also recently commented on the stock. ValuEngine downgraded shares of MakeMyTrip from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet raised shares of MakeMyTrip from a “d-” rating to a “c-” rating in a research report on Monday, January 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. MakeMyTrip has an average rating of “Buy” and an average target price of $30.16.

MMYT stock opened at $29.40 on Friday. MakeMyTrip has a 52-week low of $19.66 and a 52-week high of $41.70. The company has a market cap of $3.04 billion, a PE ratio of -13.49 and a beta of 0.49.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, January 24th. The technology company reported ($0.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.12. MakeMyTrip had a negative net margin of 32.53% and a negative return on equity of 10.90%. The firm had revenue of $179.90 million for the quarter, compared to the consensus estimate of $165.51 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. Analysts forecast that MakeMyTrip will post -1.55 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in MMYT. Capital Research Global Investors purchased a new position in MakeMyTrip during the third quarter valued at approximately $79,676,000. Capital International Investors purchased a new position in MakeMyTrip during the third quarter valued at approximately $39,977,000. Kontiki Capital Management HK Ltd. grew its position in MakeMyTrip by 54.9% in the third quarter. Kontiki Capital Management HK Ltd. now owns 2,224,451 shares of the technology company’s stock worth $61,061,000 after acquiring an additional 788,230 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in MakeMyTrip in the third quarter worth approximately $21,634,000. Finally, Massachusetts Financial Services Co. MA grew its position in MakeMyTrip by 30.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,167,590 shares of the technology company’s stock worth $77,067,000 after acquiring an additional 746,010 shares in the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

About MakeMyTrip

MakeMyTrip Ltd. is an online travel company, which engages in the ownership and operation of online brands, including MakeMyTrip, goibibo, and redbus. It offers air ticketing, hotels and packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing.

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