MakeMyTrip (NASDAQ:MMYT) Trading Down 6.8% – Should You Sell?

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price fell 6.8% during trading on Friday . The company traded as low as $37.81 and last traded at $37.2750. 276,666 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,823,217 shares. The stock had previously closed at $40.00.

Analysts Set New Price Targets

MMYT has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Citigroup decreased their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Bank of America dropped their target price on 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 given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.33.

MakeMyTrip Trading Down 7.9%

The firm’s 50 day moving average is $55.06 and its 200 day moving average is $74.30. 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 company has a market capitalization of $4.10 billion, a PE ratio of 76.74, a P/E/G ratio of 1.34 and a beta of 0.64.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results 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 business had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, equities analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

Institutional Trading of MakeMyTrip

Several large investors have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new stake in MakeMyTrip in the 4th quarter worth approximately $4,512,000. Rockefeller Capital Management L.P. increased its stake in shares of MakeMyTrip by 416.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock valued at $56,000 after buying an additional 546 shares during the period. FACT Capital LP raised its holdings in shares of MakeMyTrip by 0.4% during the fourth quarter. FACT Capital LP now owns 69,641 shares of the technology company’s stock valued at $5,719,000 after acquiring an additional 292 shares in the last quarter. Ovata Capital Management Ltd bought a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $690,000. Finally, Man Group plc lifted its stake in MakeMyTrip by 60.6% in the fourth quarter. Man Group plc now owns 1,381,728 shares of the technology company’s stock worth $113,468,000 after acquiring an additional 521,415 shares during the period. 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.