MakeMyTrip (NASDAQ:MMYT) Shares Down 5.9% – Should You Sell?

MakeMyTrip Limited (NASDAQ:MMYT) was down 5.9% on Tuesday . The stock traded as low as $38.08 and last traded at $38.3290. Approximately 546,049 shares changed hands during trading, a decline of 71% from the average daily volume of 1,885,583 shares. The stock had previously closed at $40.74.

Wall Street Analysts Forecast Growth

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

MakeMyTrip Stock Down 7.1%

The company has a 50-day moving average price of $50.81 and a 200 day moving average price of $71.02. The firm has a market capitalization of $4.21 billion, a PE ratio of 78.85, a P/E/G ratio of 1.53 and a beta of 0.83. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 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 the consensus estimate of $306.29 million. Analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in the company. Schroder Investment Management Group increased its holdings in shares of MakeMyTrip by 13.8% in the fourth 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 during the last quarter. Baillie Gifford & Co. increased its holdings in shares of MakeMyTrip by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after purchasing an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MakeMyTrip by 17.9% in the fourth 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 increased its holdings in shares of MakeMyTrip by 1.8% in the fourth 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 increased its holdings in shares of MakeMyTrip by 780.3% in the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock worth $186,797,000 after purchasing an additional 2,016,281 shares during the last quarter. 51.89% of the stock is 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.