MakeMyTrip (NASDAQ:MMYT) Shares Down 6.8% - Here's Why

Key Points

• Shares fell 6.8% to $37.28 on Friday on thin trading (276,666 shares, down ~85% from the average), leaving the stock well below its 50‑day ($55.06) and 200‑day ($74.30) moving averages.
• Analysts still carry a consensus "Moderate Buy" rating with an average target of $106.33, despite recent price‑target trims from Bank of America and Citigroup.
• MakeMyTrip beat EPS estimates ($0.52 vs. $0.43) but missed revenue ($295.7M vs. $306.3M); the company trades at a high valuation (market cap $4.1B, PE 76.74, PEG 1.34) with ~51.9% institutional ownership.

MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report) shares traded down 6.8% during trading on Friday . The company traded as low as $37.81 and last traded at $37.2750. 276,666 shares traded hands during trading, a decline of 85% from the average session volume of 1,823,217 shares. The stock had previously closed at $40.00.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Bank of America lowered their price objective on MakeMyTrip from $115.00 to $113.00 and set a "buy" rating on the stock in a research report on Wednesday, December 24th. Morgan Stanley restated an "overweight" rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Citigroup decreased their target price on MakeMyTrip from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $106.33.

MakeMyTrip Stock Performance

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 stock has a market cap of $4.10 billion, a PE ratio of 76.74, a PEG ratio of 1.34 and a beta of 0.64. The company's 50-day moving average price is $55.06 and its two-hundred day moving average price is $74.30.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $306.29 million. On average, equities research analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors have recently modified their holdings of the company. Federated Hermes Inc. grew its position in MakeMyTrip by 2,438.5% during the second quarter. Federated Hermes Inc. now owns 152,995 shares of the technology company's stock valued at $14,997,000 after acquiring an additional 146,968 shares during the last quarter. Helios Capital Management PTE. Ltd. purchased a new position in shares of MakeMyTrip during the third quarter worth approximately $2,574,000. Hudson Bay Capital Management LP lifted its holdings in shares of MakeMyTrip by 107.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company's stock worth $7,582,000 after acquiring an additional 41,999 shares during the last quarter. Seven Grand Managers LLC purchased a new stake in shares of MakeMyTrip in the 2nd quarter valued at $7,352,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of MakeMyTrip by 181.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,734 shares of the technology company's stock valued at $69,052,000 after purchasing an additional 475,248 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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