MakeMyTrip (NASDAQ:MMYT) Downgraded to Sell Rating by StockNews.com

MakeMyTrip (NASDAQ:MMYT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also recently weighed in on MMYT. Citigroup lifted their price target on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America lifted their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

MakeMyTrip Trading Up 2.3 %

NASDAQ MMYT opened at $109.69 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. MakeMyTrip has a 12 month low of $41.56 and a 12 month high of $113.61. The company has a market capitalization of $12.04 billion, a PE ratio of 58.62, a P/E/G ratio of 5.79 and a beta of 1.27. The stock has a 50-day simple moving average of $101.96 and a 200 day simple moving average of $91.96.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in shares of MakeMyTrip by 85.7% during the second quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after acquiring an additional 1,879,726 shares during the period. Jennison Associates LLC raised its stake in shares of MakeMyTrip by 282.4% in the 3rd quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares during the period. FMR LLC lifted its holdings in shares of MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares in the last quarter. Marshall Wace LLP boosted its position in shares of MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after buying an additional 539,067 shares during the period. Finally, Wasatch Advisors LP acquired a new position in shares of MakeMyTrip during the third quarter worth about $44,521,000. Institutional investors and hedge funds 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.