MakeMyTrip Ltd. (MMYT) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of MakeMyTrip Ltd. (NASDAQ:MMYT) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $25.00 target price 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. “
Several other equities research analysts also recently weighed in on the company. Jefferies Group upped their target price on MakeMyTrip from $19.10 to $19.80 and gave the stock a buy rating in a research report on Friday, July 29th. Nomura raised MakeMyTrip from a reduce rating to a neutral rating and decreased their target price for the stock from $14.50 to $14.00 in a research report on Friday, June 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. MakeMyTrip presently has an average rating of Hold and a consensus target price of $18.34.
MakeMyTrip (NASDAQ:MMYT) opened at 22.73 on Wednesday. MakeMyTrip has a 1-year low of $13.69 and a 1-year high of $23.80. The stock’s market cap is $947.34 million. The company’s 50-day moving average price is $20.55 and its 200-day moving average price is $17.93.
MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, July 27th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by $0.09. MakeMyTrip had a negative return on equity of 80.55% and a negative net margin of 27.12%. The company earned $121.23 million during the quarter, compared to analysts’ expectations of $93.66 million. During the same period in the previous year, the company earned ($0.05) EPS. MakeMyTrip’s quarterly revenue was up 54.5% on a year-over-year basis. Analysts predict that MakeMyTrip will post ($2.41) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in MakeMyTrip by 6.5% in the first quarter. Geode Capital Management LLC now owns 17,388 shares of the company’s stock valued at $314,000 after buying an additional 1,056 shares during the period. BlackRock Investment Management LLC boosted its position in MakeMyTrip by 15.5% in the second quarter. BlackRock Investment Management LLC now owns 36,580 shares of the company’s stock valued at $544,000 after buying an additional 4,900 shares during the period. Indus Capital Partners LLC boosted its position in MakeMyTrip by 37.2% in the second quarter. Indus Capital Partners LLC now owns 31,000 shares of the company’s stock valued at $461,000 after buying an additional 8,400 shares during the period. BlackRock Group LTD boosted its position in MakeMyTrip by 10.5% in the second quarter. BlackRock Group LTD now owns 112,400 shares of the company’s stock valued at $1,670,000 after buying an additional 10,700 shares during the period. Finally, KCG Holdings Inc. acquired a new position in MakeMyTrip during the second quarter valued at approximately $189,000. Institutional investors and hedge funds own 76.68% of the company’s stock.
MakeMyTrip Company Profile
MakeMyTrip Limited is an online travel company in India. The Company conducts its business principally through its Indian subsidiary, MakeMyTrip (India) Private Limited (MMT India). Through its primary Website, www.makemytrip.com, or MakeMyTrip.com, its subsidiaries’ websites, such as www.hoteltravel.com, www.makemytrip.ae, www.makemytrip.com.sg, and other technology-enhanced distribution channels in India, including its call centers, travel stores and travel agents’ network, travelers can research, plan and book a wide range of travel services and products in India, as well as overseas.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MakeMyTrip Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.