BidaskClub Lowers MakeMyTrip (MMYT) to Hold

BidaskClub downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to a hold rating in a research note released on Tuesday.

Several other research firms have also commented on MMYT. Goldman Sachs Group lowered shares of MakeMyTrip from a buy rating to a neutral rating and set a $41.00 price target on the stock. in a report on Tuesday, June 12th. They noted that the move was a valuation call. Zacks Investment Research raised shares of MakeMyTrip from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Friday, June 15th. ValuEngine raised shares of MakeMyTrip from a hold rating to a buy rating in a research note on Thursday, May 24th. Nomura raised shares of MakeMyTrip from a reduce rating to a neutral rating in a research note on Monday, May 14th. Finally, JPMorgan Chase & Co. raised shares of MakeMyTrip from a neutral rating to an overweight rating and set a $36.00 target price on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $36.40.

NASDAQ:MMYT opened at $34.85 on Tuesday. MakeMyTrip has a one year low of $22.40 and a one year high of $41.70. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -15.99 and a beta of -0.08.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, May 30th. The technology company reported ($0.40) EPS for the quarter, meeting the consensus estimate of ($0.40). MakeMyTrip had a negative net margin of 32.35% and a negative return on equity of 12.34%. The company had revenue of $145.30 million for the quarter, compared to analyst estimates of $136.31 million. During the same period in the prior year, the company earned ($0.42) earnings per share. The firm’s revenue was up 70.7% on a year-over-year basis. equities research analysts anticipate that MakeMyTrip will post -1.37 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in shares of MakeMyTrip by 29.9% during the 4th quarter. Alliancebernstein L.P. now owns 353,572 shares of the technology company’s stock worth $10,554,000 after acquiring an additional 81,320 shares in the last quarter. Fosun International Ltd boosted its stake in shares of MakeMyTrip by 61.1% during the 1st quarter. Fosun International Ltd now owns 432,834 shares of the technology company’s stock worth $15,019,000 after acquiring an additional 164,153 shares in the last quarter. Kontiki Capital Management HK Ltd. acquired a new position in shares of MakeMyTrip during the 1st quarter worth about $45,966,000. Geode Capital Management LLC raised its position in shares of MakeMyTrip by 46.6% during the 4th quarter. Geode Capital Management LLC now owns 54,290 shares of the technology company’s stock worth $1,620,000 after purchasing an additional 17,253 shares during the last quarter. Finally, PEAK6 Investments L.P. acquired a new position in shares of MakeMyTrip during the 4th quarter worth about $1,089,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, provides travel products and solutions in India and internationally. MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, the Netherlands, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Hong Kong, and Bangladesh.

Analyst Recommendations for MakeMyTrip (NASDAQ:MMYT)

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