MakeMyTrip (MMYT) Downgraded by ValuEngine to Hold

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ValuEngine cut shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to a hold rating in a report issued on Thursday morning.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered MakeMyTrip from a hold rating to a sell rating in a report on Saturday, December 29th. BidaskClub lowered MakeMyTrip from a sell rating to a strong sell rating in a report on Wednesday, November 21st. Finally, TheStreet upgraded MakeMyTrip from a d- rating to a c- rating in a report on Monday, January 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $30.16.

Shares of MMYT stock opened at $29.40 on Thursday. MakeMyTrip has a 12 month low of $19.66 and a 12 month high of $41.70. The company has a market cap of $3.00 billion, a PE ratio of -13.49 and a beta of 0.49.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Thursday, January 24th. The technology company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. MakeMyTrip had a negative return on equity of 10.90% and a negative net margin of 32.53%. The company had revenue of $179.90 million during the quarter, compared to analyst estimates of $165.51 million. During the same period in the previous year, the company earned ($0.30) earnings per share. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that MakeMyTrip will post -1.55 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in shares of MakeMyTrip by 24.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,222,819 shares of the technology company’s stock valued at $78,411,000 after purchasing an additional 635,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in MakeMyTrip by 30.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,167,590 shares of the technology company’s stock valued at $77,067,000 after acquiring an additional 746,010 shares during the period. Capital Research Global Investors bought a new stake in MakeMyTrip in the third quarter valued at $79,676,000. Kontiki Capital Management HK Ltd. grew its position in MakeMyTrip by 54.9% in the third quarter. Kontiki Capital Management HK Ltd. now owns 2,224,451 shares of the technology company’s stock valued at $61,061,000 after acquiring an additional 788,230 shares during the period. Finally, Brown Advisory Inc. grew its position in MakeMyTrip by 39.7% in the fourth quarter. Brown Advisory Inc. now owns 2,008,442 shares of the technology company’s stock valued at $48,865,000 after acquiring an additional 571,115 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Ltd. is an online travel company, which engages in the ownership and operation of online brands, including MakeMyTrip, goibibo, and redbus. It offers air ticketing, hotels and packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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