MakeMyTrip (NASDAQ:MMYT) Hits New 52-Week Low – Here’s Why

MakeMyTrip Limited (NASDAQ:MMYT) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $61.29 and last traded at $61.5140, with a volume of 441847 shares traded. The stock had previously closed at $62.77.

Analyst Ratings Changes

MMYT has been the subject of a number of recent research reports. Weiss Ratings began coverage on MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Citigroup lowered their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, January 21st. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Bank of America cut their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Trading Down 2.5%

The business has a 50 day moving average of $76.91 and a 200 day moving average of $87.32. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 127.69, a PEG ratio of 2.19 and a beta of 0.66.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million during the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MakeMyTrip by 11.4% in 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 purchasing an additional 1,721 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of MakeMyTrip during the second quarter worth about $50,000. Signaturefd LLC grew its holdings in shares of MakeMyTrip by 23.3% during the second quarter. Signaturefd LLC now owns 1,147 shares of the technology company’s stock worth $112,000 after buying an additional 217 shares in the last quarter. Ninety One UK Ltd raised its position in MakeMyTrip by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 783,059 shares of the technology company’s stock valued at $76,755,000 after buying an additional 10,206 shares during the last quarter. Finally, Ninety One North America Inc. lifted its stake in MakeMyTrip by 6.1% in the 2nd quarter. Ninety One North America Inc. now owns 202,881 shares of the technology company’s stock valued at $19,886,000 after acquiring an additional 11,672 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.