BidaskClub Lowers MakeMyTrip (NASDAQ:MMYT) to Strong Sell

BidaskClub cut shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a strong sell rating in a research report report published on Friday morning, BidAskClub reports.

MMYT has been the subject of several other research reports. Zacks Investment Research raised shares of MakeMyTrip from a sell rating to a hold rating in a research report on Wednesday, August 14th. ValuEngine downgraded shares of MakeMyTrip from a buy rating to a hold rating in a research report on Thursday. Finally, Bank of America set a $24.00 price objective on shares of MakeMyTrip and gave the stock a sell rating in a research report on Monday, May 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $29.75.

Shares of NASDAQ:MMYT opened at $21.43 on Friday. MakeMyTrip has a 52 week low of $19.66 and a 52 week high of $32.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $2.18 billion, a PE ratio of -13.31 and a beta of 0.35. The company has a 50 day moving average price of $25.80 and a two-hundred day moving average price of $26.29.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.21). MakeMyTrip had a negative return on equity of 11.74% and a negative net margin of 32.49%. The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $183.94 million. During the same period in the prior year, the company earned ($0.37) EPS. The firm’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts forecast that MakeMyTrip will post -1.12 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cooper Haims Advisors LLC acquired a new position in MakeMyTrip during the first quarter worth $457,000. Bank of America Corp DE boosted its holdings in MakeMyTrip by 7.9% during the fourth quarter. Bank of America Corp DE now owns 191,611 shares of the technology company’s stock worth $4,661,000 after purchasing an additional 14,025 shares during the last quarter. CWM LLC boosted its holdings in MakeMyTrip by 99.4% during the first quarter. CWM LLC now owns 226,412 shares of the technology company’s stock worth $6,249,000 after purchasing an additional 112,889 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in MakeMyTrip by 1.2% during the first quarter. Baillie Gifford & Co. now owns 3,260,419 shares of the technology company’s stock worth $89,988,000 after purchasing an additional 37,600 shares during the last quarter. Finally, FIL Ltd boosted its holdings in MakeMyTrip by 98.9% during the first quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock worth $71,754,000 after purchasing an additional 1,292,622 shares during the last quarter. Institutional investors and hedge funds own 45.42% of the company’s stock.

MakeMyTrip Company Profile

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.

See Also: Understanding the different types of bonds

Receive News & Ratings for MakeMyTrip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip and related companies with MarketBeat.com's FREE daily email newsletter.