Zacks Investment Research Upgrades MakeMyTrip (MMYT) to Hold

Zacks Investment Research upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

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. “

Several other analysts also recently weighed in on MMYT. BidaskClub raised MakeMyTrip from a strong sell rating to a sell rating in a report on Friday, November 2nd. ValuEngine downgraded MakeMyTrip from a buy rating to a hold rating in a report on Tuesday, November 6th. Nomura raised MakeMyTrip from a neutral rating to a buy rating and set a $31.00 target price for the company in a report on Tuesday, November 27th. Finally, TheStreet raised MakeMyTrip from a d- rating to a c- rating in a report on Monday, January 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $30.16.

MakeMyTrip stock opened at $28.96 on Wednesday. MakeMyTrip has a fifty-two week low of $19.66 and a fifty-two week high of $41.70.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Thursday, January 24th. The technology company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $165.51 million. During the same period in the previous year, the business earned ($0.30) EPS. The business’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities analysts predict that MakeMyTrip will post -1.55 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. 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, Harbour Capital Advisors LLC purchased a new stake in MakeMyTrip during the 4th quarter valued at approximately $400,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

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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