MakeMyTrip Limited (MMYT) Receives Consensus Rating of “Hold” from Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.95.

Several equities research analysts recently issued reports on MMYT shares. Zacks Investment Research lowered MakeMyTrip Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. ValuEngine raised MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. TheStreet raised MakeMyTrip Limited from a “d” rating to a “c-” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC lowered MakeMyTrip Limited from a “buy” rating to a “hold” rating and upped their price target for the company from $19.80 to $32.00 in a research report on Thursday, August 10th.

MakeMyTrip Limited (NASDAQ MMYT) opened at 33.35 on Wednesday. MakeMyTrip Limited has a 12 month low of $19.75 and a 12 month high of $40.90. The stock’s 50 day moving average is $32.26 and its 200-day moving average is $33.69. The stock’s market capitalization is $3.25 billion.

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 Thomson Reuters’ consensus estimate of ($0.47) by ($0.14). The firm had revenue of $141.21 million for the quarter, compared to analyst estimates of $110.67 million. MakeMyTrip Limited had a negative net margin of 35.64% and a negative return on equity of 17.75%. The business’s revenue was up 139.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.73) earnings per share. On average, equities research analysts expect that MakeMyTrip Limited will post ($2.20) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MMYT. First Trust Advisors LP increased its position in MakeMyTrip Limited by 34.9% in the first quarter. First Trust Advisors LP now owns 158,516 shares of the technology company’s stock worth $5,485,000 after buying an additional 41,024 shares during the period. American Century Companies Inc. acquired a new stake in MakeMyTrip Limited in the first quarter worth $1,754,000. Comerica Bank increased its position in MakeMyTrip Limited by 1.2% in the first quarter. Comerica Bank now owns 75,613 shares of the technology company’s stock worth $2,938,000 after buying an additional 863 shares during the period. Sei Investments Co. increased its position in MakeMyTrip Limited by 611.4% in the first quarter. Sei Investments Co. now owns 98,575 shares of the technology company’s stock worth $3,411,000 after buying an additional 84,718 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in MakeMyTrip Limited by 1,002.3% in the first quarter. Parametric Portfolio Associates LLC now owns 115,823 shares of the technology company’s stock worth $4,007,000 after buying an additional 105,316 shares during the period. 43.28% of the stock is currently owned by hedge funds and other institutional investors.

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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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