Wall Street Zen Downgrades MakeMyTrip (NASDAQ:MMYT) to Sell

MakeMyTrip (NASDAQ:MMYT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Citigroup lowered their target price on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Bank of America lowered their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.00.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $51.02 on Friday. 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 2.07 and a beta of 0.83. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $113.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The stock’s 50 day simple moving average is $48.02 and its 200 day simple moving average is $67.70.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly 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 return on equity of 48.06% and a net margin of 5.46%.The business had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. Equities research analysts expect that MakeMyTrip will post 1.27 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Large investors have recently modified their holdings of the stock. Leonteq Securities AG bought a new stake in shares of MakeMyTrip during the 4th quarter worth $29,000. Parallel Advisors LLC boosted its stake in shares of MakeMyTrip by 244.8% during the 3rd 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 shares of MakeMyTrip during the 4th quarter worth $46,000. Stone House Investment Management LLC boosted its stake in shares of MakeMyTrip by 50.0% during the 4th 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. boosted its stake in shares of MakeMyTrip by 893.9% during the 4th 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 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.