StockNews.com Upgrades MakeMyTrip (NASDAQ:MMYT) to “Hold”

StockNews.com upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note published on Tuesday morning.

MMYT has been the subject of several other reports. Bank of America lifted their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup lifted their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Trading Down 5.3 %

Shares of MMYT opened at $97.53 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The firm has a 50 day simple moving average of $101.43 and a 200-day simple moving average of $90.88. MakeMyTrip has a 1-year low of $41.56 and a 1-year high of $113.61. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 53.30, a price-to-earnings-growth ratio of 5.86 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. The firm had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the previous year, the company earned $0.18 EPS. Equities analysts forecast that MakeMyTrip will post 1.29 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of MakeMyTrip during the 3rd quarter valued at $858,000. XTX Topco Ltd acquired a new position in MakeMyTrip in the 3rd quarter worth $818,000. State Street Corp lifted its holdings in MakeMyTrip by 5.8% in the 3rd quarter. State Street Corp now owns 106,537 shares of the technology company’s stock worth $9,903,000 after buying an additional 5,814 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in MakeMyTrip by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company’s stock worth $47,258,000 after buying an additional 6,378 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new position in MakeMyTrip in the 3rd quarter worth $44,521,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.