MakeMyTrip (MMYT) Stock Rating Lowered by Bank of America

Bank of America cut shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to an underperform rating in a research report released on Tuesday, Benzinga reports. The brokerage currently has $25.00 target price on the technology company’s stock, down from their previous target price of $32.00.

A number of other research analysts have also weighed in on MMYT. Zacks Investment Research raised MakeMyTrip from a sell rating to a hold rating in a report on Tuesday, January 8th. BidaskClub raised MakeMyTrip from a hold rating to a buy rating in a report on Wednesday, January 9th. TheStreet raised MakeMyTrip from a d- rating to a c- rating in a report on Monday, January 28th. Finally, ValuEngine lowered MakeMyTrip from a buy rating to a hold rating in a report on Monday, February 4th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $27.56.

Shares of MMYT stock opened at $26.05 on Tuesday. MakeMyTrip has a 1-year low of $19.66 and a 1-year high of $41.70. The firm has a market cap of $2.66 billion, a P/E ratio of -11.95 and a beta of 0.42.

Institutional investors have recently bought and sold shares of the business. Thornburg Investment Management Inc. acquired a new stake in MakeMyTrip in the fourth quarter valued at $112,000. BlackRock Inc. lifted its position in shares of MakeMyTrip by 20.5% in the fourth quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock valued at $121,000 after acquiring an additional 847 shares in the last quarter. Pendal Group Ltd lifted its position in shares of MakeMyTrip by 4,612.7% in the fourth quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock valued at $154,000 after acquiring an additional 6,181 shares in the last quarter. Bellecapital International Ltd. purchased a new stake in shares of MakeMyTrip in the first quarter valued at $313,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of MakeMyTrip in the fourth quarter valued at $400,000. 46.04% of the stock is currently owned by institutional investors.

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.

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