MakeMyTrip (NASDAQ:MMYT) Stock Rating Lowered by Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

A number of other research firms have also recently commented on MMYT. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. HSBC started coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price target on the stock. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a report on Saturday, June 27th. Finally, Zacks Research downgraded shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.75.

MakeMyTrip Trading Up 1.0%

MakeMyTrip stock traded up $0.60 during mid-day trading on Friday, hitting $58.62. The company’s stock had a trading volume of 783,848 shares, compared to its average volume of 1,243,326. MakeMyTrip has a 1 year low of $32.67 and a 1 year high of $104.99. The firm has a market capitalization of $6.52 billion, a PE ratio of 234.48 and a beta of 0.98. The stock’s fifty day moving average is $47.76 and its two-hundred day moving average is $54.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Leonteq Securities AG purchased a new stake in MakeMyTrip during the 4th quarter worth approximately $29,000. Parallel Advisors LLC boosted its position in MakeMyTrip by 244.8% in 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 during the period. Kestra Advisory Services LLC acquired a new position in shares of MakeMyTrip in the fourth quarter worth $46,000. Stone House Investment Management LLC grew its stake in shares of MakeMyTrip by 50.0% in 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. Finally, Rakuten Securities Inc. increased its position in shares of MakeMyTrip by 893.9% during 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.