StockNews.com Downgrades MakeMyTrip (NASDAQ:MMYT) to Sell

StockNews.com lowered shares of MakeMyTrip (NASDAQ:MMYT - Free Report) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other research firms have also issued reports on MMYT. Bank of America lifted their price objective on MakeMyTrip from $112.00 to $119.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on MakeMyTrip from $93.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded up $4.27 during midday trading on Wednesday, hitting $107.27. 557,541 shares of the company traded hands, compared to its average volume of 726,108. MakeMyTrip has a 12 month low of $41.56 and a 12 month high of $113.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 56.28, a PEG ratio of 5.48 and a beta of 1.27. The firm's fifty day moving average price is $101.81 and its 200-day moving average price is $91.85.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.10. The firm had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, sell-side analysts forecast that MakeMyTrip will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several institutional investors have recently bought and sold shares of MMYT. US Bancorp DE increased its stake in shares of MakeMyTrip by 29.3% in the first quarter. US Bancorp DE now owns 6,814 shares of the technology company's stock worth $484,000 after buying an additional 1,543 shares during the period. Vanguard Group Inc. bought a new position in MakeMyTrip in the first quarter valued at about $2,317,000. O Shaughnessy Asset Management LLC lifted its holdings in MakeMyTrip by 75.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,546 shares of the technology company's stock valued at $749,000 after purchasing an additional 4,545 shares in the last quarter. LRI Investments LLC bought a new position in shares of MakeMyTrip during the 1st quarter valued at about $149,000. Finally, Totem Point Management LLC purchased a new stake in MakeMyTrip during the first quarter valued at approximately $2,694,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.