MakeMyTrip (NASDAQ:MMYT) Sets New 12-Month Low – Time to Sell?

MakeMyTrip Limited (NASDAQ:MMYT) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $61.29 and last traded at $61.5140, with a volume of 441847 shares traded. The stock had previously closed at $62.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Bank of America reduced their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Weiss Ratings started coverage on shares of MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating for the company. Finally, Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Trading Down 2.5%

The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 127.69, a PEG ratio of 2.19 and a beta of 0.66. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The business has a 50-day moving average of $76.91 and a 200-day moving average of $87.32.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, research analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Ninety One UK Ltd boosted its position in MakeMyTrip by 14.7% during the fourth quarter. Ninety One UK Ltd now owns 94,655 shares of the technology company’s stock worth $7,773,000 after purchasing an additional 12,161 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of MakeMyTrip by 229.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company’s stock worth $106,000 after buying an additional 900 shares during the period. Baillie Gifford & Co. grew its stake in MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after buying an additional 114,975 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in MakeMyTrip by 112.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after acquiring an additional 826,143 shares during the period. Finally, Stone House Investment Management LLC lifted its position in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after acquiring an additional 200 shares during the last quarter. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.