MakeMyTrip (NASDAQ:MMYT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note published on Tuesday morning.

Several other research firms have also weighed in on MMYT. Citigroup increased their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America raised their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

MakeMyTrip Trading Down 2.5 %

MMYT stock opened at $104.20 on Tuesday. MakeMyTrip has a fifty-two week low of $41.11 and a fifty-two week high of $113.61. The firm has a market cap of $11.44 billion, a PE ratio of 56.94, a price-to-earnings-growth ratio of 6.01 and a beta of 1.27. The firm has a fifty day moving average price of $100.74 and a 200 day moving average price of $90.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The firm had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. During the same quarter last year, the firm earned $0.18 EPS. Sell-side analysts anticipate that MakeMyTrip will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its stake in shares of MakeMyTrip by 85.7% during the second quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after acquiring an additional 1,879,726 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of MakeMyTrip by 282.4% in the 3rd quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after buying an additional 1,710,773 shares during the period. William Blair Investment Management LLC grew its position in shares of MakeMyTrip by 54.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock worth $92,431,000 after buying an additional 387,695 shares in the last quarter. Marshall Wace LLP increased its stake in shares of MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after buying an additional 539,067 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of MakeMyTrip by 39.7% in the second quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock valued at $38,599,000 after acquiring an additional 130,424 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.