MakeMyTrip (MMYT) Lifted to Buy at ValuEngine

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ValuEngine upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of MakeMyTrip from a sell rating to a hold rating in a research note on Tuesday, February 5th. TheStreet raised shares of MakeMyTrip from a d- rating to a c- rating in a research note on Monday, January 28th. Finally, BidaskClub raised shares of MakeMyTrip from a strong sell rating to a sell rating in a research note on Friday, November 30th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $30.16.

NASDAQ MMYT opened at $31.97 on Wednesday. MakeMyTrip has a 12-month low of $19.66 and a 12-month high of $41.70. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -14.67 and a beta of 0.42.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Thursday, January 24th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.12. MakeMyTrip had a negative net margin of 32.53% and a negative return on equity of 10.90%. The business had revenue of $179.90 million during the quarter, compared to analyst estimates of $165.51 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts anticipate that MakeMyTrip will post -1.55 EPS for the current year.

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of MakeMyTrip during the third quarter valued at about $108,000. Thornburg Investment Management Inc. bought a new position in MakeMyTrip in the fourth quarter worth about $112,000. BlackRock Inc. raised its stake in MakeMyTrip by 20.5% in the fourth quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock worth $121,000 after buying an additional 847 shares in the last quarter. Pendal Group Ltd raised its stake in MakeMyTrip by 4,612.7% in the fourth quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock worth $154,000 after buying an additional 6,181 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in MakeMyTrip in the fourth quarter worth about $400,000. 45.41% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Ltd. is an online travel company, which engages in the ownership and operation of online brands, including MakeMyTrip, goibibo, and redbus. It offers air ticketing, hotels and packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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