MakeMyTrip (NASDAQ:MMYT) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• MakeMyTrip has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook from analysts.
• Despite the downgrade, Macquarie upgraded its rating on MakeMyTrip to "outperform" with a target price of $110.00, showing mixed sentiment among analysts.
• The company's stock is currently trading down 1.9%, with a market capitalization of $10.21 billion, reflecting recent volatility in the travel sector.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other equities analysts also recently weighed in on the stock. Citigroup cut their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Tuesday, June 24th.

MakeMyTrip Price Performance

Shares of NASDAQ:MMYT traded up $1.79 during trading on Friday, reaching $93.56. 768,089 shares of the company's stock traded hands, compared to its average volume of 1,061,311. MakeMyTrip has a fifty-two week low of $76.95 and a fifty-two week high of $123.00. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35. The firm has a market cap of $10.41 billion, a PE ratio of 108.79 and a beta of 0.86. The company has a 50-day simple moving average of $97.28 and a 200-day simple moving average of $100.31.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMYT. Haven Private LLC grew its stake in MakeMyTrip by 6.8% in the second quarter. Haven Private LLC now owns 9,375 shares of the technology company's stock worth $919,000 after purchasing an additional 599 shares in the last quarter. AdvisorShares Investments LLC increased its stake in MakeMyTrip by 25.3% in the second quarter. AdvisorShares Investments LLC now owns 10,804 shares of the technology company's stock valued at $1,059,000 after acquiring an additional 2,181 shares during the period. Atria Investments Inc lifted its holdings in MakeMyTrip by 5.8% in the second quarter. Atria Investments Inc now owns 4,705 shares of the technology company's stock valued at $461,000 after buying an additional 256 shares during the period. Hantz Financial Services Inc. bought a new position in MakeMyTrip during the 2nd quarter worth about $1,162,000. Finally, Jennison Associates LLC lifted its stake in MakeMyTrip by 38.0% in the second quarter. Jennison Associates LLC now owns 1,849,767 shares of the technology company's stock valued at $181,314,000 after acquiring an additional 509,638 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company's stock.

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.