MakeMyTrip Limited (MMYT) Rating Lowered to Sell at UBS AG

MakeMyTrip Limited (NASDAQ:MMYT) was downgraded by analysts at UBS AG from a “buy” rating to a “sell” rating in a report released on Wednesday. They presently have a $30.00 target price on the technology company’s stock. UBS AG’s price objective would indicate a potential upside of 1.35% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of MakeMyTrip Limited from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Saturday, July 1st. TheStreet raised shares of MakeMyTrip Limited from a “d” rating to a “c-” rating in a report on Tuesday, July 25th. ValuEngine raised shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC cut shares of MakeMyTrip Limited from a “buy” rating to a “hold” rating and raised their price target for the stock from $19.80 to $32.00 in a report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $31.73.

Shares of MakeMyTrip Limited (NASDAQ:MMYT) opened at 29.60 on Wednesday. The stock’s market capitalization is $2.88 billion. MakeMyTrip Limited has a 52 week low of $19.75 and a 52 week high of $40.90. The firm’s 50-day moving average is $32.26 and its 200-day moving average is $33.69.

MakeMyTrip Limited (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.14). The company had revenue of $141.21 million during the quarter, compared to analysts’ expectations of $110.67 million. MakeMyTrip Limited had a negative return on equity of 16.91% and a negative net margin of 31.64%. The company’s quarterly revenue was up 139.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.73) EPS. Analysts forecast that MakeMyTrip Limited will post ($2.14) earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. raised its holdings in shares of MakeMyTrip Limited by 12.7% during the second quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock worth $119,000 after purchasing an additional 399 shares during the last quarter. Comerica Bank raised its holdings in shares of MakeMyTrip Limited by 1.2% during the first quarter. Comerica Bank now owns 75,613 shares of the technology company’s stock worth $2,938,000 after purchasing an additional 863 shares during the last quarter. Sei Investments Co. raised its holdings in shares of MakeMyTrip Limited by 3.8% during the second quarter. Sei Investments Co. now owns 102,321 shares of the technology company’s stock worth $3,433,000 after purchasing an additional 3,746 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of MakeMyTrip Limited by 8.7% during the second quarter. Jennison Associates LLC now owns 61,477 shares of the technology company’s stock worth $2,063,000 after purchasing an additional 4,897 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of MakeMyTrip Limited by 17.2% during the second quarter. State Street Corp now owns 33,868 shares of the technology company’s stock worth $1,136,000 after purchasing an additional 4,966 shares during the last quarter. 43.28% of the stock is owned by hedge funds and other institutional investors.

About MakeMyTrip Limited

MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.

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