MakeMyTrip Limited (MMYT) Rating Increased to Buy at Zacks Investment Research
MakeMyTrip Limited (NASDAQ:MMYT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm presently has a $31.00 price target on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.97% from the company’s previous close.
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. “
A number of other research firms have also recently commented on MMYT. TheStreet upgraded MakeMyTrip Limited from a “d” rating to a “c-” rating in a research note on Tuesday, July 25th. Jefferies Group LLC cut MakeMyTrip Limited from a “buy” rating to a “hold” rating and upped their price target for the stock from $19.80 to $32.00 in a research note on Thursday, August 10th. ValuEngine cut MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, UBS Group AG (USA) cut MakeMyTrip Limited from a “buy” rating to a “sell” rating and set a $30.00 price target on the stock. in a research note on Wednesday, September 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. MakeMyTrip Limited currently has a consensus rating of “Hold” and an average target price of $30.10.
MakeMyTrip Limited (MMYT) traded up $2.42 during trading hours on Friday, hitting $27.20. 843,548 shares of the company traded hands, compared to its average volume of 683,047. MakeMyTrip Limited has a 1-year low of $22.05 and a 1-year high of $40.90.
MakeMyTrip Limited (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.27. MakeMyTrip Limited had a negative return on equity of 12.74% and a negative net margin of 31.73%. The firm had revenue of $139.20 million for the quarter, compared to analysts’ expectations of $110.72 million. During the same period in the prior year, the firm posted ($0.61) earnings per share. The firm’s quarterly revenue was up 161.7% on a year-over-year basis. research analysts forecast that MakeMyTrip Limited will post -2.16 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. lifted its stake in MakeMyTrip Limited by 12.7% during the second quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock worth $119,000 after purchasing an additional 399 shares in the last quarter. Credit Suisse AG acquired a new position in MakeMyTrip Limited during the first quarter worth $242,000. Airain ltd purchased a new stake in shares of MakeMyTrip Limited during the second quarter worth $256,000. California Public Employees Retirement System purchased a new stake in shares of MakeMyTrip Limited during the second quarter worth $262,000. Finally, Caxton Associates LP purchased a new stake in shares of MakeMyTrip Limited during the second quarter worth $278,000. Institutional investors own 43.49% of the company’s stock.
MakeMyTrip Limited Company Profile
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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