MakeMyTrip Limited (MMYT) Downgraded to “Sell” at UBS AG
MakeMyTrip Limited (NASDAQ:MMYT) was downgraded by equities research analysts at UBS AG from a “buy” rating to a “sell” rating in a research report issued on Wednesday, www.flashratings.com reports. They presently have a $30.00 target price on the technology company’s stock.
Other analysts have also 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 target price on the stock 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 lowered shares of MakeMyTrip Limited from a “buy” rating to a “hold” rating and upped their target price 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 issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.73.
Shares of MakeMyTrip Limited (MMYT) traded down 10.04% on Wednesday, reaching $30.00. 2,106,678 shares of the company were exchanged. MakeMyTrip Limited has a 12-month low of $19.75 and a 12-month high of $40.90. The firm has a 50 day moving average price of $32.26 and a 200-day moving average price of $33.69. The stock’s market capitalization is $2.92 billion.
MakeMyTrip Limited (NASDAQ:MMYT) last posted its earnings results on Wednesday, August 9th. The technology company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.14). The firm had revenue of $141.21 million for the quarter, compared to the consensus estimate of $110.67 million. MakeMyTrip Limited had a negative return on equity of 16.91% and a negative net margin of 31.64%. The business’s revenue was up 139.9% on a year-over-year basis. During the same period last year, the company posted ($0.73) EPS. On average, analysts predict that MakeMyTrip Limited will post ($2.20) EPS for the current fiscal year.
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Several large investors have recently modified their holdings of MMYT. Janus Henderson Group PLC bought a new position in shares of MakeMyTrip Limited in the 2nd quarter worth $80,153,000. Baillie Gifford & Co. bought a new position in shares of MakeMyTrip Limited in the 1st quarter worth $80,600,000. JHL Capital Group LLC bought a new position in shares of MakeMyTrip Limited in the 1st quarter worth $43,250,000. Franklin Resources Inc. increased its holdings in shares of MakeMyTrip Limited by 110.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,930,468 shares of the technology company’s stock worth $64,753,000 after buying an additional 1,014,468 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of MakeMyTrip Limited by 20.9% in the 2nd quarter. Capital World Investors now owns 5,679,214 shares of the technology company’s stock worth $190,201,000 after buying an additional 981,229 shares during the last quarter. 43.28% of the stock is currently owned by hedge funds and other institutional investors.
MakeMyTrip Limited Company Profile
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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