Zacks Investment Research upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a report published on Tuesday, September 11th.
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. “
A number of other equities analysts have also recently commented on MMYT. Nomura raised MakeMyTrip from a reduce rating to a neutral rating in a research note on Monday, May 14th. ValuEngine raised MakeMyTrip from a hold rating to a buy rating in a research note on Thursday, May 24th. BidaskClub raised MakeMyTrip from a buy rating to a strong-buy rating in a research note on Tuesday, June 12th. Goldman Sachs Group cut MakeMyTrip from a buy rating to a neutral rating and set a $41.00 target price on the stock. in a research note on Tuesday, June 12th. They noted that the move was a valuation call. Finally, Bank of America reduced their target price on MakeMyTrip from $40.00 to $39.50 and set a buy rating on the stock in a research note on Monday, July 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $36.36.
Shares of MMYT traded down $0.89 during trading hours on Tuesday, reaching $24.76. 288,079 shares of the company’s stock traded hands, compared to its average volume of 348,501. The company has a market cap of $2.80 billion, a PE ratio of -11.36 and a beta of -0.16. MakeMyTrip has a 12 month low of $22.40 and a 12 month high of $41.70.
MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Tuesday, August 14th. The technology company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.20). The firm had revenue of $170.09 million during the quarter, compared to the consensus estimate of $164.50 million. MakeMyTrip had a negative return on equity of 11.37% and a negative net margin of 32.44%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.53) EPS. On average, equities research analysts expect that MakeMyTrip will post -1.45 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in MakeMyTrip by 824.4% in the first quarter. Barclays PLC now owns 2,921 shares of the technology company’s stock worth $101,000 after acquiring an additional 2,605 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of MakeMyTrip by 123.6% during the first quarter. Citigroup Inc. now owns 3,454 shares of the technology company’s stock valued at $120,000 after purchasing an additional 1,909 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of MakeMyTrip during the second quarter valued at $200,000. Fox Run Management L.L.C. bought a new position in shares of MakeMyTrip during the third quarter valued at $235,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of MakeMyTrip during the first quarter valued at $241,000. 43.00% of the stock is currently owned by institutional investors and hedge funds.
MakeMyTrip Company Profile
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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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