MakeMyTrip (NASDAQ:MMYT) Hits New 52-Week Low – Here’s What Happened

Shares of MakeMyTrip Limited (NASDAQ:MMYT) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $59.91 and last traded at $59.4750, with a volume of 1648323 shares changing hands. The stock had previously closed at $63.63.

Analyst Upgrades and Downgrades

MMYT has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Citigroup decreased their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Finally, Bank of America reduced their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Stock Down 12.3%

The firm has a market capitalization of $6.21 billion, a PE ratio of 116.29, a P/E/G ratio of 2.15 and a beta of 0.64. The stock has a 50-day simple moving average of $76.01 and a 200-day simple moving average of $86.44. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The company had revenue of $295.70 million during the quarter, compared to the consensus estimate of $306.29 million. Analysts forecast that MakeMyTrip Limited will post 1.27 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Several large investors have recently modified their holdings of MMYT. Parallel Advisors LLC lifted its stake in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after buying an additional 284 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in MakeMyTrip during the 2nd quarter valued at $43,000. Stone House Investment Management LLC lifted its position in shares of MakeMyTrip by 50.0% during the fourth 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 in the last quarter. Farther Finance Advisors LLC bought a new position in shares of MakeMyTrip in the second quarter worth $50,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after acquiring an additional 590 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

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.