MakeMyTrip (NASDAQ:MMYT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “MakeMyTrip Limited is an online travel service company which offers travel products and solutions in India and the United States. The Company’s services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited and MakeMyTrip.com Inc. Through its primary website, www.makemytrip.com, and other technology-enhanced platforms, the Company provides access to all major domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, a wide selection of hotels in and outside India, Indian Railways and several major Indian bus operators. MakeMyTrip Limited is based in Gurgaon, India. “

MMYT has been the topic of several other reports. Bank of America set a $24.00 target price on MakeMyTrip and gave the company a sell rating in a research note on Monday, May 20th. BidaskClub upgraded MakeMyTrip from a strong sell rating to a sell rating in a research note on Saturday, September 7th. Finally, ValuEngine downgraded MakeMyTrip from a buy rating to a hold rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. MakeMyTrip presently has an average rating of Hold and an average price target of $29.75.

Shares of MMYT opened at $24.42 on Friday. The business’s fifty day simple moving average is $23.33 and its two-hundred day simple moving average is $25.60. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.02. MakeMyTrip has a 12 month low of $19.66 and a 12 month high of $32.30. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -15.17 and a beta of 0.41.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Tuesday, July 30th. The technology company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.21). MakeMyTrip had a negative net margin of 32.49% and a negative return on equity of 11.74%. The business had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $183.94 million. During the same quarter in the prior year, the business posted ($0.37) earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts forecast that MakeMyTrip will post -1.12 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. FIL Ltd boosted its stake in shares of MakeMyTrip by 98.9% in the 1st quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock worth $71,754,000 after buying an additional 1,292,622 shares during the last quarter. CWM LLC boosted its stake in shares of MakeMyTrip by 14.6% in the 2nd quarter. CWM LLC now owns 259,426 shares of the technology company’s stock worth $6,434,000 after buying an additional 33,014 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of MakeMyTrip by 2.3% in the 2nd quarter. First Trust Advisors LP now owns 188,398 shares of the technology company’s stock worth $4,672,000 after buying an additional 4,226 shares during the last quarter. Wasatch Advisors Inc. boosted its stake in shares of MakeMyTrip by 7.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,244,401 shares of the technology company’s stock worth $55,661,000 after buying an additional 157,753 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of MakeMyTrip by 2.7% in the 2nd quarter. GW&K Investment Management LLC now owns 484,139 shares of the technology company’s stock worth $12,007,000 after buying an additional 12,513 shares during the last quarter. Hedge funds and other institutional investors own 43.55% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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