MakeMyTrip (NASDAQ:MMYT) Downgraded by Wall Street Zen to Sell

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

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Citigroup dropped their price objective on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Bank of America dropped their price objective on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

MakeMyTrip Trading Up 6.6%

NASDAQ:MMYT opened at $51.02 on Friday. The stock’s 50 day moving average price is $48.02 and its 200 day moving average price is $67.87. MakeMyTrip has a 52 week low of $32.67 and a 52 week high of $113.85. The company has a market capitalization of $5.68 billion, a P/E ratio of 106.29, a P/E/G ratio of 1.94 and a beta of 0.83. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The firm had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. On average, research analysts forecast that MakeMyTrip will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in MakeMyTrip by 0.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,829 shares of the technology company’s stock worth $2,230,000 after purchasing an additional 150 shares during the period. GeoWealth Management LLC boosted its position in MakeMyTrip by 4.6% during the third quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock worth $361,000 after purchasing an additional 169 shares during the period. Capital International Sarl boosted its position in MakeMyTrip by 0.5% during the third quarter. Capital International Sarl now owns 37,903 shares of the technology company’s stock worth $3,548,000 after purchasing an additional 179 shares during the period. Osaic Holdings Inc. boosted its position in MakeMyTrip by 10.2% during the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after purchasing an additional 188 shares during the period. Finally, Stone House Investment Management LLC boosted its position in MakeMyTrip by 50.0% during the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares during the period. Institutional investors own 51.89% of the company’s stock.

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.