MakeMyTrip Ltd. (MMYT) Trading 3.5% Higher
MakeMyTrip Ltd. (NASDAQ:MMYT)’s share price shot up 3.5% during mid-day trading on Monday . The company traded as high as $16.25 and last traded at $16.19, with a volume of 85,242 shares trading hands. The stock had previously closed at $15.64.
A number of research firms have recently issued reports on MMYT. Zacks Investment Research downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Nomura Holdings Inc. upgraded shares of MakeMyTrip from a “reduce” rating to a “neutral” rating and dropped their price objective for the company from $14.50 to $14.00 in a research note on Friday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.78.
The company’s 50 day moving average price is $14.92 and its 200-day moving average price is $17.25. The stock’s market capitalization is $688.57 million.
MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, May 18th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by $0.32. The business had revenue of $88 million for the quarter, compared to the consensus estimate of $36.91 million. MakeMyTrip’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) earnings per share. Equities analysts forecast that MakeMyTrip Ltd. will post ($2.35) EPS for the current fiscal year.
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.
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