MakeMyTrip (MMYT) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

According to Zacks, “MakeMyTrip Limited is an online travel service company which offers travel products and solutions in India and the United States. The Company’s services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited and MakeMyTrip.com Inc. Through its primary website, www.makemytrip.com, and other technology-enhanced platforms, the Company provides access to all major domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, a wide selection of hotels in and outside India, Indian Railways and several major Indian bus operators. MakeMyTrip Limited is based in Gurgaon, India. “

Other equities analysts also recently issued research reports about the stock. BidaskClub upgraded shares of MakeMyTrip from a hold rating to a buy rating in a research note on Wednesday, March 7th. TheStreet upgraded shares of MakeMyTrip from a d rating to a c- rating in a research note on Friday, February 23rd. Jefferies Group set a $30.00 price objective on shares of MakeMyTrip and gave the company a hold rating in a research note on Friday, February 9th. Finally, JPMorgan Chase upgraded shares of MakeMyTrip from a neutral rating to an overweight rating and set a $36.00 price objective for the company in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. MakeMyTrip currently has a consensus rating of Hold and a consensus price target of $34.20.



Shares of MMYT stock traded down $0.75 on Thursday, reaching $34.85. 159,286 shares of the stock were exchanged, compared to its average volume of 342,254. The company has a market cap of $3,240.78, a P/E ratio of -18.94 and a beta of -0.07. MakeMyTrip has a twelve month low of $22.40 and a twelve month high of $40.90.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Thursday, February 8th. The technology company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08. The firm had revenue of $151.40 million during the quarter, compared to the consensus estimate of $143.89 million. MakeMyTrip had a negative net margin of 38.95% and a negative return on equity of 12.00%. The company’s revenue was up 97.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. equities analysts expect that MakeMyTrip will post -2.13 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in MakeMyTrip by 20.0% in the fourth quarter. Franklin Resources Inc. now owns 3,019,295 shares of the technology company’s stock valued at $90,132,000 after acquiring an additional 503,500 shares in the last quarter. Janus Henderson Group PLC boosted its stake in MakeMyTrip by 9.7% in the third quarter. Janus Henderson Group PLC now owns 2,620,313 shares of the technology company’s stock valued at $75,334,000 after acquiring an additional 231,250 shares in the last quarter. Sands Capital Management LLC raised its holdings in shares of MakeMyTrip by 7.0% in the fourth quarter. Sands Capital Management LLC now owns 2,041,064 shares of the technology company’s stock valued at $60,926,000 after buying an additional 132,700 shares during the last quarter. Global Thematic Partners LLC raised its holdings in shares of MakeMyTrip by 498.9% in the fourth quarter. Global Thematic Partners LLC now owns 803,811 shares of the technology company’s stock valued at $23,992,000 after buying an additional 669,599 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of MakeMyTrip by 22.1% in the fourth quarter. Brown Advisory Inc. now owns 638,393 shares of the technology company’s stock valued at $19,056,000 after buying an additional 115,590 shares during the last quarter. Institutional investors own 46.99% of the company’s stock.

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About MakeMyTrip

MakeMyTrip Limited, an online travel company, provides travel products and solutions in India and internationally. MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, the Netherlands, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Hong Kong, and Bangladesh.

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