MakeMyTrip (NASDAQ:MMYT) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on MMYT. The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a research report on Saturday, June 27th. Zacks Research lowered MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Bank of America decreased their price target on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Finally, HSBC assumed coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, MakeMyTrip currently has an average rating of “Moderate Buy” and a consensus price target of $73.50.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $44.73 on Friday. The firm’s 50 day moving average price is $53.69 and its 200-day moving average price is $49.57. The company has a market cap of $4.21 billion, a PE ratio of 372.75 and a beta of 1.07. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $96.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MMYT. Farther Finance Advisors LLC grew its stake in shares of MakeMyTrip by 26.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock valued at $95,000 after purchasing an additional 422 shares during the period. Carrhae Capital LLP lifted its stake in shares of MakeMyTrip by 47.0% in the 2nd quarter. Carrhae Capital LLP now owns 221,385 shares of the technology company’s stock worth $11,798,000 after purchasing an additional 70,823 shares during the period. Carmignac Gestion boosted its holdings in shares of MakeMyTrip by 32.9% in the second quarter. Carmignac Gestion now owns 40,452 shares of the technology company’s stock worth $2,156,000 after buying an additional 10,024 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of MakeMyTrip in the second quarter worth approximately $1,704,000. Finally, Flossbach Von Storch SE bought a new stake in MakeMyTrip during the second quarter valued at approximately $2,664,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

About MakeMyTrip

MakeMyTrip Limited is an online travel company that operates consumer travel platforms in India and other markets. Founded in 2000 by Deep Kalra, the company provides digital tools for researching, planning and booking travel through its websites and mobile applications.

Its services include airline and rail ticketing, hotel and accommodation reservations, holiday packages, bus tickets, car rentals and airport transfers. MakeMyTrip also offers travel-related services such as activities, travel insurance and other ancillary products, depending on the market and booking channel.

The company operates the MakeMyTrip and Goibibo brands, as well as the redBus intercity bus-ticketing platform.