MakeMyTrip (NASDAQ:MMYT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

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. “

MMYT has been the topic of a number of other research reports. Bank of America set a $24.00 target price on shares of MakeMyTrip and gave the company a sell rating in a research note on Monday, May 20th. BidaskClub cut shares of MakeMyTrip from a sell rating to a strong sell rating in a research note on Friday, August 16th. Finally, ValuEngine cut shares of MakeMyTrip from a buy rating to a hold rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $29.75.



NASDAQ MMYT opened at $22.80 on Tuesday. The stock has a market cap of $2.34 billion, a P/E ratio of -14.16 and a beta of 0.35. The company’s 50-day simple moving average is $25.41 and its 200 day simple moving average is $26.16. MakeMyTrip has a twelve month low of $19.66 and a twelve month high of $32.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.02.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Tuesday, July 30th. The technology company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.21). The business had revenue of $198.50 million during the quarter, compared to the consensus estimate of $183.94 million. MakeMyTrip had a negative net margin of 32.49% and a negative return on equity of 11.74%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) EPS. Research analysts anticipate that MakeMyTrip will post -1.12 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in MakeMyTrip by 309.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the technology company’s stock worth $25,000 after buying an additional 767 shares during the last quarter. BlackRock Inc. grew its stake in MakeMyTrip by 20.5% during the fourth quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock worth $121,000 after buying an additional 847 shares during the last quarter. Parametrica Management Ltd bought a new stake in MakeMyTrip during the first quarter worth about $274,000. Bellecapital International Ltd. grew its stake in MakeMyTrip by 4.6% during the second quarter. Bellecapital International Ltd. now owns 11,866 shares of the technology company’s stock worth $294,000 after buying an additional 522 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in MakeMyTrip during the second quarter worth about $320,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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