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

Key Points

• MakeMyTrip has been downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen, indicating a negative outlook on the stock's performance.
• Despite the downgrade, other analysts have mixed ratings for MakeMyTrip, with Citigroup maintaining a "buy" rating and a target price of $120.00 while Macquarie upgraded the stock to "outperform" with a target of $110.00.
• Currently, MakeMyTrip's stock has a trading price of $94.45, with a market capitalization of $10.51 billion and significant interest from institutional investors, who collectively own 51.89% of its stock.

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

Other analysts have also issued reports about the stock. Citigroup lowered their price objective on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Macquarie upgraded MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price for the company in a report on Tuesday, June 24th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MakeMyTrip has an average rating of "Buy" and an average target price of $120.00.

MakeMyTrip Stock Up 0.1%

Shares of MMYT stock traded up $0.11 during mid-day trading on Friday, hitting $94.45. The stock had a trading volume of 804,422 shares, compared to its average volume of 951,523. MakeMyTrip has a 12-month low of $81.84 and a 12-month high of $123.00. The firm has a market capitalization of $10.51 billion, a P/E ratio of 109.83 and a beta of 0.81. The firm's 50-day moving average is $97.52 and its two-hundred day moving average is $99.09. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in shares of MakeMyTrip by 10.2% during the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company's stock worth $199,000 after purchasing an additional 188 shares during the last quarter. Hudson Bay Capital Management LP raised its stake in shares of MakeMyTrip by 875.0% during the 2nd quarter. Hudson Bay Capital Management LP now owns 39,000 shares of the technology company's stock valued at $3,823,000 after buying an additional 35,000 shares during the last quarter. MayTech Global Investments LLC raised its stake in shares of MakeMyTrip by 3.9% during the 2nd quarter. MayTech Global Investments LLC now owns 311,744 shares of the technology company's stock valued at $30,293,000 after buying an additional 11,785 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of MakeMyTrip by 20.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,009,860 shares of the technology company's stock valued at $98,986,000 after buying an additional 173,622 shares during the last quarter. Finally, Man Group plc raised its stake in shares of MakeMyTrip by 6,434.6% during the 2nd quarter. Man Group plc now owns 632,747 shares of the technology company's stock valued at $62,022,000 after buying an additional 623,064 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

MakeMyTrip Company Profile

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.

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