MakeMyTrip Limited (MMYT) Given Average Rating of “Hold” by Brokerages
Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.35.
Several brokerages have commented on MMYT. Jefferies Group downgraded MakeMyTrip from a “buy” rating to a “hold” rating and lifted their price target for the stock from $19.80 to $32.00 in a research report on Thursday, August 10th. Zacks Investment Research downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Goldman Sachs Group began coverage on MakeMyTrip in a research report on Thursday. They issued a “buy” rating and a $36.00 price target on the stock. ValuEngine downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, TheStreet downgraded MakeMyTrip from a “c-” rating to a “d” rating in a research report on Tuesday, November 14th.
Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $755,000. Bank of Montreal Can acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $395,000. Howard Hughes Medical Institute acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $2,338,000. Penserra Capital Management LLC grew its holdings in shares of MakeMyTrip by 69.0% during the 3rd quarter. Penserra Capital Management LLC now owns 126,622 shares of the technology company’s stock worth $3,639,000 after purchasing an additional 51,688 shares in the last quarter. Finally, New Silk Road Investment PTE Ltd. acquired a new stake in shares of MakeMyTrip during the 3rd quarter worth approximately $7,299,000. 44.88% of the stock is currently owned by institutional investors.
MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.45) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.27. The company had revenue of $139.20 million for the quarter, compared to the consensus estimate of $110.72 million. MakeMyTrip had a negative return on equity of 12.74% and a negative net margin of 31.73%. The company’s revenue for the quarter was up 161.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.61) EPS. sell-side analysts predict that MakeMyTrip will post -2.22 EPS for the current fiscal year.
WARNING: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/04/makemytrip-limited-mmyt-given-average-rating-of-hold-by-brokerages.html.
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.
Receive News & Ratings for MakeMyTrip Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip Limited and related companies with MarketBeat.com's FREE daily email newsletter.