MakeMyTrip (NASDAQ:MMYT) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to a hold rating in a research note published on Friday, April 6th.

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. “

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Other equities analysts also recently issued research reports about the company. BidaskClub upgraded MakeMyTrip from a hold rating to a buy rating in a research report on Wednesday, March 7th. TheStreet upgraded MakeMyTrip from a d rating to a c- rating in a research report on Friday, February 23rd. Jefferies Group set a $30.00 price target on MakeMyTrip and gave the company a hold rating in a report on Friday, February 9th. Finally, JPMorgan Chase raised MakeMyTrip from a neutral rating to an overweight rating and set a $36.00 price target for the company in a report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. MakeMyTrip currently has a consensus rating of Hold and a consensus target price of $34.20.

Shares of NASDAQ:MMYT opened at $35.15 on Friday. MakeMyTrip has a 1 year low of $22.40 and a 1 year high of $40.90.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Thursday, February 8th. The technology company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08. The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $143.89 million. MakeMyTrip had a negative return on equity of 12.00% and a negative net margin of 38.95%. The company’s revenue was up 97.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) earnings per share. equities research analysts anticipate that MakeMyTrip will post -2.13 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. boosted its position in shares of MakeMyTrip by 22.1% during the fourth quarter. Brown Advisory Inc. now owns 638,393 shares of the technology company’s stock worth $19,056,000 after buying an additional 115,590 shares during the period. Alliancebernstein L.P. boosted its holdings in MakeMyTrip by 29.9% in the fourth quarter. Alliancebernstein L.P. now owns 353,572 shares of the technology company’s stock valued at $10,554,000 after purchasing an additional 81,320 shares during the period. Wells Fargo & Company MN boosted its holdings in MakeMyTrip by 41,030.3% in the third quarter. Wells Fargo & Company MN now owns 76,091 shares of the technology company’s stock valued at $2,187,000 after purchasing an additional 75,906 shares during the period. PEAK6 Investments L.P. purchased a new position in MakeMyTrip in the fourth quarter valued at $1,089,000. Finally, New Silk Road Investment PTE Ltd. boosted its holdings in MakeMyTrip by 134.1% in the fourth quarter. New Silk Road Investment PTE Ltd. now owns 594,291 shares of the technology company’s stock valued at $17,739,000 after purchasing an additional 340,400 shares during the period. Institutional investors and hedge funds own 46.88% of the company’s stock.

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About MakeMyTrip

MakeMyTrip Limited, an online travel company, provides travel products and solutions in India and internationally. MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, the Netherlands, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Hong Kong, and Bangladesh.

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