BidaskClub Upgrades MakeMyTrip (MMYT) to Sell

BidaskClub upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a strong sell rating to a sell rating in a research note published on Friday.

Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of MakeMyTrip from a hold rating to a buy rating in a report on Wednesday, October 17th. Jefferies Financial Group raised shares of MakeMyTrip from a hold rating to a buy rating and set a $19.80 price objective for the company in a report on Wednesday, August 15th. Zacks Investment Research raised shares of MakeMyTrip from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, TheStreet lowered shares of MakeMyTrip from a c- rating to a d+ rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $31.13.

Shares of MMYT opened at $24.99 on Friday. MakeMyTrip has a 12-month low of $20.82 and a 12-month high of $41.70. The stock has a market capitalization of $2.55 billion, a P/E ratio of -11.46 and a beta of 0.04.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, October 25th. The technology company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.03). MakeMyTrip had a negative net margin of 32.59% and a negative return on equity of 11.27%. The firm had revenue of $160.10 million during the quarter. As a group, research analysts expect that MakeMyTrip will post -1.5 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. GAM Holding AG purchased a new position in MakeMyTrip during the second quarter worth about $612,000. Boston Common Asset Management LLC purchased a new position in MakeMyTrip during the third quarter worth about $569,000. Dynamic Technology Lab Private Ltd purchased a new position in MakeMyTrip during the second quarter worth about $360,000. Penserra Capital Management LLC boosted its stake in MakeMyTrip by 7.7% during the third quarter. Penserra Capital Management LLC now owns 285,289 shares of the technology company’s stock worth $7,830,000 after buying an additional 20,430 shares during the period. Finally, CWM LLC boosted its stake in MakeMyTrip by 30.5% during the third quarter. CWM LLC now owns 122,952 shares of the technology company’s stock worth $3,375,000 after buying an additional 28,760 shares during the period. 44.79% of the stock is owned by 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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Analyst Recommendations for MakeMyTrip (NASDAQ:MMYT)

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