MakeMyTrip (MMYT) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
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. “
A number of other research firms have also recently weighed in on MMYT. BidaskClub upgraded MakeMyTrip from a buy rating to a strong-buy rating in a report on Tuesday, June 12th. Goldman Sachs Group cut MakeMyTrip from a buy rating to a neutral rating and set a $41.00 price target for the company. in a report on Tuesday, June 12th. They noted that the move was a valuation call. ValuEngine upgraded MakeMyTrip from a hold rating to a buy rating in a report on Thursday, May 24th. Bank of America decreased their price target on MakeMyTrip from $40.00 to $39.50 and set a buy rating for the company in a report on Monday, July 9th. Finally, Nomura upgraded MakeMyTrip from a reduce rating to a neutral rating in a report on Monday, May 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $35.30.
MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Tuesday, August 14th. The technology company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.20). The company had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $164.50 million. MakeMyTrip had a negative return on equity of 11.37% and a negative net margin of 32.44%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.53) EPS. sell-side analysts anticipate that MakeMyTrip will post -1.45 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of MakeMyTrip by 0.4% in the 1st quarter. Franklin Resources Inc. now owns 3,031,895 shares of the technology company’s stock valued at $105,170,000 after purchasing an additional 12,600 shares in the last quarter. FIL Ltd raised its position in shares of MakeMyTrip by 16.3% in the 1st quarter. FIL Ltd now owns 2,704,146 shares of the technology company’s stock valued at $93,833,000 after purchasing an additional 379,730 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of MakeMyTrip by 1.2% in the 2nd quarter. Baillie Gifford & Co. now owns 2,576,385 shares of the technology company’s stock valued at $93,136,000 after purchasing an additional 30,641 shares in the last quarter. Wasatch Advisors Inc. raised its position in shares of MakeMyTrip by 0.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,102,673 shares of the technology company’s stock valued at $76,012,000 after purchasing an additional 15,604 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of MakeMyTrip by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,842,760 shares of the technology company’s stock valued at $66,616,000 after purchasing an additional 57,242 shares in the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
Further Reading: What is the Dow Jones Industrial Average (DJIA)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MakeMyTrip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip and related companies with MarketBeat.com's FREE daily email newsletter.