MakeMyTrip (NASDAQ:MMYT) Trading Down 8.2% Following Analyst Downgrade

MakeMyTrip Limited (NASDAQ:MMYT)’s share price traded down 8.2% on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $42.08 and last traded at $41.2530. 227,313 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,658,394 shares. The stock had previously closed at $44.93.

Several other research firms also recently weighed in on MMYT. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.00.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently made changes to their positions in MMYT. Leonteq Securities AG acquired a new position in shares of MakeMyTrip in the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its holdings in MakeMyTrip by 74.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after purchasing an additional 422 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after purchasing an additional 284 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of MakeMyTrip in the 4th quarter worth approximately $46,000. Finally, Stone House Investment Management LLC boosted its stake in shares of MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

The company’s 50-day moving average price is $43.95 and its two-hundred day moving average price is $61.24. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 172.00, a PEG ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85.

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.