MakeMyTrip (NASDAQ:MMYT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
A number of other research firms have also weighed in on MMYT. Zacks Investment Research lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Finally, TheStreet upgraded shares of MakeMyTrip from a “d-” rating to a “c-” rating in a research note on Monday, January 28th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $30.16.
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Shares of MMYT opened at $31.10 on Wednesday. MakeMyTrip has a 1 year low of $19.66 and a 1 year high of $41.70.
MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Thursday, January 24th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.12. The business had revenue of $179.90 million for the quarter, compared to analysts’ expectations of $165.51 million. MakeMyTrip had a negative net margin of 32.53% and a negative return on equity of 10.90%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. As a group, research analysts expect that MakeMyTrip will post -1.55 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in MakeMyTrip in the third quarter valued at approximately $108,000. Thornburg Investment Management Inc. purchased a new position in MakeMyTrip in the fourth quarter valued at approximately $112,000. BlackRock Inc. increased its stake in MakeMyTrip by 20.5% in the fourth quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock valued at $121,000 after purchasing an additional 847 shares during the last quarter. Pendal Group Ltd increased its stake in MakeMyTrip by 4,612.7% in the fourth quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock valued at $154,000 after purchasing an additional 6,181 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in MakeMyTrip in the fourth quarter valued at approximately $400,000. Hedge funds and other institutional investors own 45.41% of the company’s stock.
MakeMyTrip Company Profile
MakeMyTrip Ltd. is an online travel company, which engages in the ownership and operation of online brands, including MakeMyTrip, goibibo, and redbus. It offers air ticketing, hotels and packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing.
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