MakeMyTrip (NASDAQ:MMYT) Reaches New 52-Week Low – Here’s Why

MakeMyTrip Limited (NASDAQ:MMYT) shares reached a new 52-week low on Tuesday . The company traded as low as $39.20 and last traded at $39.9030, with a volume of 481892 shares traded. The stock had previously closed at $40.67.

Analyst Ratings Changes

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

MakeMyTrip Stock 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 has a market capitalization of $4.35 billion, a PE ratio of 81.48, a PEG ratio of 1.37 and a beta of 0.64. The stock’s 50 day moving average price is $55.75 and its two-hundred day moving average price is $74.54.

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

Institutional Trading of MakeMyTrip

A number of large investors have recently made changes to their positions in MMYT. Schroder Investment Management Group increased its position in MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after purchasing an additional 869,728 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after purchasing an additional 114,975 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of MakeMyTrip by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after purchasing an additional 371,066 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of MakeMyTrip by 1.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock worth $190,699,000 after purchasing an additional 40,712 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of MakeMyTrip by 780.3% during the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock worth $186,797,000 after buying an additional 2,016,281 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.