BidaskClub Upgrades MakeMyTrip (NASDAQ:MMYT) to Hold

BidaskClub upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

A number of other brokerages have also recently commented on MMYT. ValuEngine cut shares of MakeMyTrip from a buy rating to a hold rating in a research note on Thursday, October 1st. Zacks Investment Research upgraded shares of MakeMyTrip from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Friday, October 16th.

MakeMyTrip stock opened at $21.69 on Wednesday. MakeMyTrip has a twelve month low of $10.00 and a twelve month high of $30.13. The firm has a 50 day moving average price of $17.15 and a 200-day moving average price of $15.62. The company has a market capitalization of $2.24 billion, a P/E ratio of -5.23 and a beta of 1.18. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.02.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Friday, August 21st. The technology company reported ($0.32) earnings per share for the quarter. MakeMyTrip had a negative net margin of 116.86% and a negative return on equity of 41.84%. The company had revenue of $6.36 million for the quarter. Equities analysts expect that MakeMyTrip will post -1.34 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. RBF Capital LLC increased its position in MakeMyTrip by 1.5% during the 2nd quarter. RBF Capital LLC now owns 101,477 shares of the technology company’s stock valued at $1,555,000 after buying an additional 1,477 shares in the last quarter. HighTower Advisors LLC lifted its stake in MakeMyTrip by 2.4% during the second quarter. HighTower Advisors LLC now owns 99,491 shares of the technology company’s stock worth $1,526,000 after purchasing an additional 2,289 shares in the last quarter. Invesco Ltd. lifted its stake in MakeMyTrip by 4.1% during the first quarter. Invesco Ltd. now owns 64,020 shares of the technology company’s stock worth $765,000 after purchasing an additional 2,517 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of MakeMyTrip by 56.9% in the first quarter. Wells Fargo & Company MN now owns 7,089 shares of the technology company’s stock valued at $85,000 after acquiring an additional 2,570 shares in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of MakeMyTrip in the first quarter valued at $33,000. Institutional investors own 38.82% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance.

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