MakeMyTrip (MMYT) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to a hold rating in a report released on Monday, February 4th.

A number of other equities research analysts have also recently weighed in on the company. Goldman Sachs Group raised MakeMyTrip from a neutral rating to a buy rating and dropped their price objective for the company from $40.00 to $33.00 in a research note on Friday, October 26th. BidaskClub downgraded MakeMyTrip from a sell rating to a strong sell rating in a report on Wednesday, November 21st. Zacks Investment Research raised MakeMyTrip from a sell rating to a hold rating in a report on Saturday, January 26th. TheStreet downgraded MakeMyTrip from a c- rating to a d+ rating in a report on Tuesday, October 9th. Finally, Nomura raised MakeMyTrip from a neutral rating to a buy rating and set a $31.00 price target for the company in a report on Tuesday, November 27th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $30.16.

Shares of MMYT opened at $28.96 on Monday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -13.28 and a beta of 0.42. MakeMyTrip has a 12 month low of $19.66 and a 12 month high of $41.70.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Thursday, January 24th. The technology company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.12. MakeMyTrip had a negative return on equity of 10.90% and a negative net margin of 32.53%. The business had revenue of $179.90 million for the quarter, compared to the consensus estimate of $165.51 million. During the same quarter last year, the business posted ($0.30) earnings per share. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that MakeMyTrip will post -1.55 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in MakeMyTrip during the 3rd quarter valued at approximately $108,000. Thornburg Investment Management Inc. purchased a new stake in MakeMyTrip during the 4th quarter valued at approximately $112,000. BlackRock Inc. raised its stake in MakeMyTrip by 20.5% during the 4th quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock valued at $121,000 after acquiring an additional 847 shares during the last quarter. Pendal Group Ltd raised its stake in MakeMyTrip by 4,612.7% during the 4th quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock valued at $154,000 after acquiring an additional 6,181 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in MakeMyTrip during the 3rd quarter valued at approximately $235,000. 45.41% of the stock is 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.

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