MakeMyTrip (NASDAQ:MMYT) Stock Price Down 8.2% After Analyst Downgrade

MakeMyTrip Limited (NASDAQ:MMYT)’s share price was down 8.2% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $42.08 and last traded at $41.2530. Approximately 227,313 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,658,394 shares. The stock had previously closed at $44.93.

A number of other brokerages have also weighed in on MMYT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MakeMyTrip currently has an average rating of “Moderate Buy” and an average price target of $101.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. GeoWealth Management LLC lifted its position in MakeMyTrip by 4.6% during the 3rd quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock valued at $361,000 after acquiring an additional 169 shares during the period. Capital International Sarl lifted its position in MakeMyTrip by 0.5% during the 3rd quarter. Capital International Sarl now owns 37,903 shares of the technology company’s stock valued at $3,548,000 after acquiring an additional 179 shares during the period. Osaic Holdings Inc. lifted its position in MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after acquiring an additional 188 shares during the period. Stone House Investment Management LLC lifted its position in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after acquiring an additional 200 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in MakeMyTrip by 33.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock valued at $90,000 after acquiring an additional 278 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Performance

The company has a market capitalization of $4.78 billion, a PE ratio of 172.00, a PEG ratio of 1.69 and a beta of 1.03. The business’s 50-day moving average is $43.95 and its 200-day moving average is $61.24. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85.

MakeMyTrip Company Profile

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.