MakeMyTrip (MMYT) – Research Analysts’ Weekly Ratings Changes

MakeMyTrip (NASDAQ: MMYT) recently received a number of ratings updates from brokerages and research firms:

  • 8/6/2019 – MakeMyTrip was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 7/31/2019 – MakeMyTrip was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 7/31/2019 – MakeMyTrip was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/30/2019 – MakeMyTrip was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 price target on the stock. 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. “
  • 7/17/2019 – MakeMyTrip was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/4/2019 – MakeMyTrip was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/28/2019 – MakeMyTrip had its “house stock” rating reaffirmed by analysts at BidaskClub.
  • 6/20/2019 – MakeMyTrip was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

NASDAQ:MMYT traded up $0.34 during trading hours on Tuesday, hitting $23.74. The stock had a trading volume of 600 shares, compared to its average volume of 224,556. MakeMyTrip Limited has a one year low of $19.66 and a one year high of $35.15. 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 stock has a market cap of $2.52 billion, a P/E ratio of -14.75 and a beta of 0.35. The firm has a 50 day moving average price of $26.53.

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

Several hedge funds have recently modified their holdings of MMYT. FIL Ltd increased its position in shares of 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 acquiring an additional 1,292,622 shares in the last quarter. GMT Capital Corp increased its position in shares of MakeMyTrip by 49.5% during the first quarter. GMT Capital Corp now owns 907,376 shares of the technology company’s stock worth $25,044,000 after acquiring an additional 300,453 shares in the last quarter. Norges Bank bought a new position in MakeMyTrip in the fourth quarter valued at $6,922,000. CWM LLC grew its position in MakeMyTrip by 99.4% in the first quarter. CWM LLC now owns 226,412 shares of the technology company’s stock valued at $6,249,000 after purchasing an additional 112,889 shares in the last quarter. Finally, Global Thematic Partners LLC grew its position in MakeMyTrip by 7.0% in the first quarter. Global Thematic Partners LLC now owns 1,467,510 shares of the technology company’s stock valued at $40,505,000 after purchasing an additional 95,809 shares in the last quarter. 43.59% of the stock is owned by institutional investors.

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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