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

Key Points

• Wall Street Zen downgraded MakeMyTrip (NASDAQ:MMYT) from a "hold" to a "sell" in a recent research report.
• Despite that downgrade, the Street consensus remains a "Moderate Buy" with a consensus target price of $101.00; four analysts rate MMYT as Buy and one as Hold, although some firms (Citigroup, BofA) have trimmed price targets.
• Shares trade around $51.02 (1‑year range $32.67–$113.85) with a $5.68B market cap and high P/E (~106); the last quarter showed an EPS beat ($0.52 vs. $0.43) but revenue slightly missed expectations.

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

Several other equities analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of MakeMyTrip from $96.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 13th. Weiss Ratings restated a "hold (c)" rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Bank of America cut their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a "buy" rating on the stock in a research note on Wednesday, December 24th. Finally, Morgan Stanley restated an "overweight" rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.00.

MakeMyTrip Stock Performance

Shares of MMYT opened at $51.02 on Friday. MakeMyTrip has a 1 year low of $32.67 and a 1 year high of $113.85. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 106.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.83. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a fifty day moving average of $48.02 and a 200-day moving average of $68.05.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The company had revenue of $295.70 million during the quarter, compared to the consensus estimate of $306.29 million. As a group, equities analysts anticipate that MakeMyTrip will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently bought and sold shares of the business. Leonteq Securities AG bought a new stake in MakeMyTrip in the fourth quarter worth about $29,000. Parallel Advisors LLC raised its position in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company's stock worth $37,000 after acquiring an additional 284 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in MakeMyTrip in the fourth quarter worth about $46,000. Stone House Investment Management LLC raised its position in MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company's stock worth $49,000 after acquiring an additional 200 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company's stock worth $54,000 after acquiring an additional 590 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

About MakeMyTrip

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.

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