MakeMyTrip (NASDAQ:MMYT) Shares Gap Down – Should You Sell?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price gapped down before the market opened on Monday . The stock had previously closed at $114.53, but opened at $110.71. MakeMyTrip shares last traded at $111.93, with a volume of 55,035 shares.

Wall Street Analysts Forecast Growth

MMYT has been the subject of several recent research reports. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Bank of America boosted their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday.

MakeMyTrip Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The company has a market capitalization of $12.43 billion, a PE ratio of 61.89, a PEG ratio of 6.59 and a beta of 1.27. The company has a 50 day moving average price of $109.60 and a 200 day moving average price of $98.99.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The firm had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts forecast that MakeMyTrip Limited will post 1.29 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

A number of hedge funds have recently made changes to their positions in MMYT. Park Place Capital Corp bought a new stake in shares of MakeMyTrip in the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. lifted its holdings in shares of MakeMyTrip by 100.9% during the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after purchasing an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of MakeMyTrip by 44.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock valued at $65,000 after purchasing an additional 236 shares during the period. nVerses Capital LLC purchased a new position in MakeMyTrip in the 2nd quarter worth about $143,000. Finally, D Orazio & Associates Inc. acquired a new stake in MakeMyTrip during the 3rd quarter worth about $210,000. Institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.