MakeMyTrip (NASDAQ:MMYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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 brokerages also recently commented on MMYT. BidaskClub downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Bank of America upped their target price on MakeMyTrip from $39.50 to $40.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. ValuEngine downgraded MakeMyTrip from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Jefferies Financial Group raised MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 target price for the company in a report on Wednesday, August 15th. Finally, Goldman Sachs Group raised MakeMyTrip from a “neutral” rating to a “buy” rating and reduced their target price for the company from $40.00 to $33.00 in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $31.16.

MMYT stock traded down $1.24 during trading hours on Thursday, hitting $23.51. 252,433 shares of the stock traded hands, compared to its average volume of 496,322. MakeMyTrip has a one year low of $20.82 and a one year high of $41.70. The stock has a market capitalization of $2.59 billion, a P/E ratio of -10.78 and a beta of 0.04.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Tuesday, August 14th. The technology company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.20). MakeMyTrip had a negative net margin of 32.59% and a negative return on equity of 11.27%. The firm had revenue of $170.09 million for the quarter, compared to the consensus estimate of $164.50 million. During the same period in the prior year, the business earned ($0.53) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts expect that MakeMyTrip will post -1.5 EPS for the current year.

A number of institutional investors have recently made changes to their positions in MMYT. Barclays PLC lifted its stake in MakeMyTrip by 824.4% in the 1st quarter. Barclays PLC now owns 2,921 shares of the technology company’s stock worth $101,000 after acquiring an additional 2,605 shares in the last quarter. Millennium Management LLC purchased a new stake in MakeMyTrip in the 1st quarter worth about $910,000. Legal & General Group Plc lifted its stake in MakeMyTrip by 38.9% in the 1st quarter. Legal & General Group Plc now owns 11,506 shares of the technology company’s stock worth $399,000 after acquiring an additional 3,222 shares in the last quarter. Fisher Asset Management LLC lifted its stake in MakeMyTrip by 17.3% in the 2nd quarter. Fisher Asset Management LLC now owns 52,573 shares of the technology company’s stock worth $1,901,000 after acquiring an additional 7,741 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in MakeMyTrip in the 2nd quarter worth about $200,000. 44.10% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

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.

Read More: How to Track your Portfolio in Google Finance

Get a free copy of the Zacks research report on MakeMyTrip (MMYT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for MakeMyTrip (NASDAQ:MMYT)

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.