MakeMyTrip (NASDAQ:MMYT) Sets New 12-Month Low – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) hit a new 52-week low during trading on Tuesday . The company traded as low as $39.20 and last traded at $39.9030, with a volume of 481892 shares changing hands. The stock had previously closed at $40.67.

Analysts Set New Price Targets

MMYT has been the topic of a number of recent research reports. Citigroup cut their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Finally, Bank of America cut their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, MakeMyTrip currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.33.

MakeMyTrip Stock Up 0.3%

The stock has a market capitalization of $4.54 billion, a P/E ratio of 84.98, a P/E/G ratio of 1.37 and a beta of 0.64. The stock’s 50 day simple moving average is $57.28 and its 200 day simple moving average is $75.22. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $295.70 million during the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, research analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MakeMyTrip by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock worth $1,642,000 after buying an additional 1,721 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MakeMyTrip by 408.0% in the 2nd quarter. Geode Capital Management LLC now owns 302,664 shares of the technology company’s stock valued at $29,667,000 after purchasing an additional 243,086 shares during the period. Handelsbanken Fonder AB increased its stake in MakeMyTrip by 1.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 45,424 shares of the technology company’s stock worth $4,452,000 after purchasing an additional 500 shares in the last quarter. Magnetar Financial LLC bought a new position in MakeMyTrip in the second quarter valued at approximately $262,000. Finally, Legal & General Group Plc increased its position in shares of MakeMyTrip by 9.2% during the 2nd quarter. Legal & General Group Plc now owns 74,202 shares of the technology company’s stock worth $7,273,000 after purchasing an additional 6,249 shares during the last quarter. 51.89% of the stock is owned by institutional investors.

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.