MakeMyTrip (NASDAQ:MMYT) Shares Down 4.6% – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT) shares were down 4.6% during mid-day trading on Wednesday . The company traded as low as $48.76 and last traded at $48.5610. Approximately 713,851 shares traded hands during trading, a decline of 63% from the average daily volume of 1,924,621 shares. The stock had previously closed at $50.91.

Analyst Ratings Changes

A number of analysts have weighed in on MMYT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Citigroup reduced their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Bank of America lowered their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Price Performance

The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm’s 50-day moving average price is $67.34 and its two-hundred day moving average price is $80.57. The stock has a market cap of $5.43 billion, a PE ratio of 101.71, a PEG ratio of 1.92 and a beta of 0.64.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%.The business had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. On average, equities analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

A number of large investors have recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new position in shares of MakeMyTrip in the 4th quarter worth approximately $29,000. Parallel Advisors LLC boosted its stake in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in MakeMyTrip in the second quarter worth $43,000. Kestra Advisory Services LLC acquired a new position in shares of MakeMyTrip during the fourth quarter valued at about $46,000. Finally, Stone House Investment Management LLC raised its position in shares of MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after purchasing an additional 200 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors.

About MakeMyTrip

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.