MakeMyTrip (NASDAQ:MMYT) Upgraded at StockNews.com

MakeMyTrip (NASDAQ: MMYT – Get Rating) was upgraded from a “sell” rating to a “hold” rating by analysts at StockNews.com in a research report released to clients and investors on Friday.

Several other equity analysts have also released reports on MMYT. Citigroup raised its target price on MakeMyTrip shares from $42.00 to $43.00 and gave the company a “buy” rating in a report dated Thursday, May 26. In a report on Monday, June 13, UBS Group upgraded MakeMyTrip’s shares from a “Sell” rating to a “Buy” rating. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to Marketbeat data, MakeMyTrip has an average rating of “moderate buy” and a consensus target price of $36.00.

MakeMyTrip stock up 1.5%

Shares of MakeMyTrip traded at $0.46 during trading hours on Friday, reaching $32.00. 322,348 shares of the stock traded in hands compared to its average volume of 320,990. The firm’s 50-day moving average price is $27.22 and its two-hundred-day moving average price is $26.07. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.37 billion, a PE ratio of -78.05 and a beta of 1.22. MakeMyTrip has a one-year low of $20.06 and a one-year high of $36.28.

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MakeMyTrip (NASDAQ: MMYT – GET RATINGS) last posted its quarterly earnings figures on Wednesday, May 25. The technology company reported earnings per share ($0.04) for the quarter. MakeMyTrip had a negative net margin of 14.93% and a negative return on equity of 5.06%. The firm’s revenue for the quarter was $88.59 million, compared to the consensus estimate of $101.23 million. On an average, research analysts expect MakeMyTrip to post -0.15 EPS for the current year.

Hedge funds weigh in on MakeMyTrip

Hedge funds have recently increased or decreased their stake in the company. Boston Common Asset Management LLC increased its stake in MakeMyTrip by 1.9% in the fourth quarter. Boston Common Asset Management LLC now holds 58,465 shares of the technology company’s stock worth $1,620,000 after acquiring an additional 1,064 shares during the previous quarter. TD Asset Management Inc. purchased a new position in MakeMyTrip for approximately $623,000 in the fourth quarter. Aviva Plc increased its stake in MakeMyTrip to 21.7% in the fourth quarter. After acquiring an additional 204,040 shares during the previous quarter, Aviva plc now holds 1,143,659 shares of the technology company’s stock worth $31,691,000. Capital International Investors raised its stake in MakeMyTrip by 133.2% in the fourth quarter. Capital International Investors now owns 3,287,384 shares of the technology company’s stock worth $91,093,000, after acquiring an additional 1,877,781 shares during the previous quarter. Finally, Bailey Gifford & Co. increased its stake in MakeMyTrip to 3.1% in the first quarter. After acquiring an additional 74,831 shares during the previous quarter, Bailey Gifford & Co. now owns 2,504,679 shares for $67,201,000 of the technology company’s stock. 42.91% of the stock is currently held by hedge funds and other institutional investors.

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MakeMyTrip Company Profile (Get Rating)

MakeMyTrip Ltd., an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam and Indonesia. The company operates through three segments: Air Ticketing, Hotel & Packages and Bus Ticketing.

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