MakeMyTrip (MMYT) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a buy rating in a report published on Monday morning.

A number of other research firms also recently weighed in on MMYT. Zacks Investment Research upgraded MakeMyTrip from a sell rating to a hold rating in a research report on Saturday, September 1st. BidaskClub downgraded MakeMyTrip from a hold rating to a sell rating in a research report on Friday, July 27th. TheStreet downgraded MakeMyTrip from a c- rating to a d+ rating in a research report on Tuesday, October 9th. Jefferies Financial Group upgraded MakeMyTrip from a hold rating to a buy rating and set a $19.80 target price for the company in a research report on Wednesday, August 15th. Finally, Bank of America dropped their target price on MakeMyTrip from $40.00 to $39.50 and set a buy rating for the company in a research report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $31.16.

Shares of MMYT opened at $24.79 on Monday. The stock has a market cap of $2.38 billion, a PE ratio of -11.37 and a beta of -0.17. MakeMyTrip has a 12-month low of $20.82 and a 12-month high of $41.70.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Tuesday, August 14th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.20). The business had revenue of $170.09 million for the quarter, compared to the consensus estimate of $164.50 million. MakeMyTrip had a negative net margin of 32.59% and a negative return on equity of 11.27%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.53) EPS. On average, sell-side analysts forecast that MakeMyTrip will post -1.45 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its position in MakeMyTrip by 30.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,082 shares of the technology company’s stock worth $328,000 after buying an additional 2,133 shares during the last quarter. MayTech Global Investments LLC lifted its position in MakeMyTrip by 2.0% in the second quarter. MayTech Global Investments LLC now owns 126,554 shares of the technology company’s stock valued at $4,575,000 after purchasing an additional 2,493 shares during the last quarter. Barclays PLC lifted its position in MakeMyTrip by 824.4% in the first quarter. Barclays PLC now owns 2,921 shares of the technology company’s stock valued at $101,000 after purchasing an additional 2,605 shares during the last quarter. Legal & General Group Plc lifted its position in MakeMyTrip by 38.9% in the first quarter. Legal & General Group Plc now owns 11,506 shares of the technology company’s stock valued at $399,000 after purchasing an additional 3,222 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in MakeMyTrip in the third quarter valued at approximately $108,000. Institutional investors own 43.03% 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.

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Analyst Recommendations for MakeMyTrip (NASDAQ:MMYT)

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