MakeMyTrip (MMYT) Upgraded by BidaskClub to “Hold”

MakeMyTrip (NASDAQ:MMYT) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other research firms also recently issued reports on MMYT. Goldman Sachs Group began coverage on MakeMyTrip in a research report on Thursday, November 30th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Jefferies Group reaffirmed a “hold” rating and set a $31.50 price target on shares of MakeMyTrip in a research report on Friday, October 13th. 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. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.75.

MakeMyTrip (MMYT) traded down $3.55 during midday trading on Thursday, hitting $29.25. The company had a trading volume of 562,193 shares, compared to its average volume of 318,953. MakeMyTrip has a 52-week low of $22.40 and a 52-week high of $40.90. The firm has a market cap of $2,681.55, a P/E ratio of -10.87 and a beta of -0.01.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Thursday, February 8th. The technology company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.08. MakeMyTrip had a negative return on equity of 12.09% and a negative net margin of 38.95%. The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $143.89 million. During the same period in the prior year, the firm earned ($0.12) EPS. The firm’s revenue was up 97.9% on a year-over-year basis. equities research analysts anticipate that MakeMyTrip will post -2.29 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in MakeMyTrip by 25.1% in the 4th quarter. First Trust Advisors LP now owns 351,771 shares of the technology company’s stock valued at $10,500,000 after buying an additional 70,626 shares in the last quarter. Penserra Capital Management LLC lifted its stake in MakeMyTrip by 50.7% in the 4th quarter. Penserra Capital Management LLC now owns 190,852 shares of the technology company’s stock valued at $5,696,000 after buying an additional 64,230 shares in the last quarter. River & Mercantile Asset Management LLP lifted its stake in MakeMyTrip by 57.6% in the 4th quarter. River & Mercantile Asset Management LLP now owns 177,060 shares of the technology company’s stock valued at $5,290,000 after buying an additional 64,710 shares in the last quarter. Iberiabank Corp purchased a new position in MakeMyTrip in the 4th quarter valued at about $1,016,000. Finally, Global Thematic Partners LLC lifted its stake in MakeMyTrip by 498.9% in the 4th quarter. Global Thematic Partners LLC now owns 803,811 shares of the technology company’s stock valued at $23,992,000 after buying an additional 669,599 shares in the last quarter. 43.82% of the stock is currently owned by hedge funds and other institutional investors.

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About MakeMyTrip

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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