MakeMyTrip (NASDAQ:MMYT) Trading Down 6.4% - Should You Sell?

Key Points

• MakeMyTrip shares fell 6.4% to about $50.45, with trading volume roughly 89% below its average daily level.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $86.75, despite recent downgrades from Wall Street Zen and Zacks Research.
• Institutional investors own approximately 51.89% of the stock, while MakeMyTrip trades at a very high trailing P/E ratio of 411.92 and has a market capitalization of $4.63 billion.

MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report)'s stock price fell 6.4% on Wednesday . The company traded as low as $51.47 and last traded at $50.4520. Approximately 142,736 shares traded hands during trading, a decline of 89% from the average daily volume of 1,315,489 shares. The stock had previously closed at $53.90.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MMYT shares. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Citigroup reaffirmed a "buy" rating on shares of MakeMyTrip in a report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a report on Saturday, June 27th. Zacks Research downgraded MakeMyTrip from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, HSBC began coverage on MakeMyTrip in a report on Thursday, July 2nd. They issued a "buy" rating and a $70.00 price target for the company. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.75.

MakeMyTrip Price Performance

The firm's 50 day moving average is $57.63 and its 200 day moving average is $50.12. The company has a market cap of $4.63 billion, a PE ratio of 411.92 and a beta of 1.00.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently made changes to their positions in MMYT. GeoWealth Management LLC raised its holdings in shares of MakeMyTrip by 4.6% in the 3rd quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company's stock valued at $361,000 after acquiring an additional 169 shares in the last quarter. Osaic Holdings Inc. raised its stake in MakeMyTrip by 10.2% in the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company's stock valued at $199,000 after purchasing an additional 188 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in MakeMyTrip by 33.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company's stock valued at $90,000 after purchasing an additional 278 shares in the last quarter. Parallel Advisors LLC lifted its position in MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company's stock valued at $37,000 after purchasing an additional 284 shares during the last quarter. Finally, FACT Capital LP lifted its position in MakeMyTrip by 0.4% during the fourth quarter. FACT Capital LP now owns 69,641 shares of the technology company's stock valued at $5,719,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

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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