MakeMyTrip (NASDAQ:MMYT) Stock Rating Lowered by Zacks Research

MakeMyTrip (NASDAQ:MMYT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts also recently commented on the stock. HSBC assumed coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price on the stock. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a report on Saturday, June 27th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.75.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $61.24 on Tuesday. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 510.33 and a beta of 0.98. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.43. The business has a 50 day simple moving average of $54.82 and a 200 day simple moving average of $50.15.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MMYT. Leonteq Securities AG bought a new position in MakeMyTrip in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased 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 in the last quarter. Parallel Advisors LLC grew its holdings in shares of MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after buying an additional 284 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of MakeMyTrip during the 4th quarter worth approximately $46,000. Finally, Rakuten Securities Inc. grew its position in MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after purchasing an additional 590 shares in the last quarter. 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.