MakeMyTrip (NASDAQ:MMYT) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other analysts have also weighed in on MMYT. Citigroup decreased their target price on shares of MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Bank of America decreased their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.00.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $49.63 on Friday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 103.40, a P/E/G ratio of 2.07 and a beta of 0.83. The company’s fifty day moving average is $47.82 and its two-hundred day moving average is $67.38. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. The company had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. Equities research analysts forecast that MakeMyTrip will post 1.22 EPS for the current year.

Institutional Trading of MakeMyTrip

Several institutional investors have recently made changes to their positions in the business. Leonteq Securities AG acquired a new position in MakeMyTrip in the fourth quarter valued at about $29,000. Parallel Advisors LLC boosted its position in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after buying an additional 284 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in MakeMyTrip in the fourth quarter valued at about $46,000. Stone House Investment Management LLC boosted its position in MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after buying an additional 200 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after buying an additional 590 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.