MakeMyTrip (NASDAQ:MMYT) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a research note published on Saturday.

Several other equities research analysts also recently commented on MMYT. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research note on Saturday, June 27th. Citigroup restated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. HSBC began coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price target for the company. Finally, Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.75.

MakeMyTrip Stock Up 1.4%

MMYT stock opened at $59.02 on Friday. The stock has a market capitalization of $5.55 billion, a PE ratio of 491.83 and a beta of 0.98. MakeMyTrip has a 52 week low of $32.67 and a 52 week high of $103.24. The firm has a 50 day moving average of $56.89 and a 200 day moving average of $50.27.

Institutional Trading of MakeMyTrip

Institutional investors and hedge funds have recently bought and sold shares of the business. Temasek Holdings Private Ltd purchased a new position in MakeMyTrip during the first quarter valued at approximately $63,447,000. Sei Investments Co. lifted its holdings in MakeMyTrip by 17.5% in the first quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock valued at $24,349,000 after acquiring an additional 97,377 shares during the period. Hsbc Holdings PLC purchased a new stake in MakeMyTrip in the 4th quarter worth approximately $4,512,000. Flossbach Von Storch SE purchased a new stake in MakeMyTrip in the 2nd quarter worth approximately $2,664,000. Finally, Coronation Fund Managers Ltd. grew its stake in shares of MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after purchasing an additional 280,923 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.