MakeMyTrip (NASDAQ:MMYT) Raised to Hold at StockNews.com

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

MMYT has been the topic of several other reports. Bank of America increased 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 increased 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 Stock Performance

MMYT traded down $5.03 during midday trading on Tuesday, hitting $98.00. 273,764 shares of the company were exchanged, compared to its average volume of 723,105. The company’s 50 day simple moving average is $101.24 and its 200 day simple moving average is $90.79. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 5.86 and a beta of 1.27. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. MakeMyTrip has a 1-year low of $41.56 and a 1-year high of $113.61.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same period last year, the firm earned $0.18 EPS. As a group, sell-side analysts predict that MakeMyTrip will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Place Capital Corp purchased a new position in MakeMyTrip in the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after buying an additional 332 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in MakeMyTrip by 100.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after purchasing an additional 225 shares during the last quarter. Fifth Third Bancorp acquired a new stake in MakeMyTrip in the 2nd quarter valued at approximately $59,000. Finally, nVerses Capital LLC acquired a new stake in MakeMyTrip in the 2nd quarter valued at approximately $143,000. 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.