BidaskClub Lowers MakeMyTrip (NASDAQ:MMYT) to Sell

MakeMyTrip (NASDAQ:MMYT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, February 17th.

Several other equities analysts have also recently commented on the stock. Goldman Sachs Group started coverage on shares of MakeMyTrip in a report on Thursday, November 30th. They set a “buy” rating and a $36.00 price target on the stock. Zacks Investment Research upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Saturday, November 4th. TheStreet cut shares of MakeMyTrip from a “c-” rating to a “d” rating in a report on Tuesday, November 14th. Finally, Jefferies Group set a $30.00 price objective on shares of MakeMyTrip and gave the stock a “hold” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. MakeMyTrip currently has a consensus rating of “Hold” and an average price target of $32.60.

MakeMyTrip (NASDAQ MMYT) traded up $0.25 during trading on Friday, hitting $36.20. 458,127 shares of the stock traded hands, compared to its average volume of 364,059. MakeMyTrip has a fifty-two week low of $22.40 and a fifty-two week high of $40.90. The stock has a market cap of $3,277.45, a PE ratio of -13.46 and a beta of -0.01.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.08. MakeMyTrip had a negative net margin of 38.95% and a negative return on equity of 12.00%. The business had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $143.89 million. During the same period in the previous year, the company posted ($0.12) EPS. MakeMyTrip’s revenue was up 97.9% on a year-over-year basis. research analysts expect that MakeMyTrip will post -2.14 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Deltec Asset Management LLC boosted its holdings in MakeMyTrip by 8.0% in the third quarter. Deltec Asset Management LLC now owns 27,000 shares of the technology company’s stock worth $776,000 after purchasing an additional 2,000 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in MakeMyTrip during the third quarter valued at about $135,000. State Street Corp boosted its holdings in MakeMyTrip by 17.2% during the second quarter. State Street Corp now owns 33,868 shares of the technology company’s stock valued at $1,136,000 after acquiring an additional 4,966 shares during the period. Castleark Management LLC bought a new stake in MakeMyTrip during the fourth quarter valued at about $152,000. Finally, California Public Employees Retirement System bought a new stake in MakeMyTrip during the second quarter valued at about $262,000. Hedge funds and other institutional investors own 47.00% of the company’s stock.

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About MakeMyTrip

MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.

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