MakeMyTrip (NASDAQ:MMYT) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

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. “

A number of other equities analysts have also weighed in on MMYT. BidaskClub lowered MakeMyTrip from a hold rating to a sell rating in a research report on Thursday, August 8th. ValuEngine lowered MakeMyTrip from a buy rating to a hold rating in a research report on Wednesday, July 31st. Finally, Bank of America set a $24.00 price target on MakeMyTrip and gave the company a sell rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $27.76.

NASDAQ:MMYT traded down $0.19 during mid-day trading on Wednesday, reaching $21.33. 1,501 shares of the stock were exchanged, compared to its average volume of 230,263. The business’s fifty day moving average price is $25.94. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -13.27 and a beta of 0.35. MakeMyTrip has a 1-year low of $19.66 and a 1-year high of $32.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.02.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Tuesday, July 30th. The technology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.21). The firm had revenue of $198.50 million for the quarter, compared to analyst estimates of $183.94 million. MakeMyTrip had a negative return on equity of 11.74% and a negative net margin of 32.49%. MakeMyTrip’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.37) earnings per share. As a group, research analysts expect that MakeMyTrip will post -1.12 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in MakeMyTrip by 1.2% during the 1st quarter. Baillie Gifford & Co. now owns 3,260,419 shares of the technology company’s stock worth $89,988,000 after acquiring an additional 37,600 shares during the period. Brown Advisory Inc. boosted its position in MakeMyTrip by 18.7% during the 2nd quarter. Brown Advisory Inc. now owns 2,607,430 shares of the technology company’s stock worth $64,664,000 after acquiring an additional 411,306 shares during the period. FIL Ltd boosted its position in MakeMyTrip by 98.9% during the 1st quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock worth $71,754,000 after acquiring an additional 1,292,622 shares during the period. Wasatch Advisors Inc. boosted its position in MakeMyTrip by 7.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,244,401 shares of the technology company’s stock worth $55,661,000 after acquiring an additional 157,753 shares during the period. Finally, GMT Capital Corp boosted its position in MakeMyTrip by 49.5% during the 1st quarter. GMT Capital Corp now owns 907,376 shares of the technology company’s stock worth $25,044,000 after acquiring an additional 300,453 shares during the period. Hedge funds and other institutional investors own 43.09% of the company’s stock.

MakeMyTrip Company Profile

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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