MakeMyTrip (NASDAQ:MMYT) Rating Lowered to Sell at Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other equities research analysts also recently commented on the stock. HSBC initiated coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Zacks Research cut MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a report on Saturday, June 27th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MakeMyTrip presently has an average rating of “Moderate Buy” and a consensus price target of $86.75.

MakeMyTrip Price Performance

Shares of MMYT stock traded up $0.60 during trading hours on Friday, reaching $58.62. 783,848 shares of the stock were exchanged, compared to its average volume of 1,243,326. The business’s fifty day moving average is $47.76 and its two-hundred day moving average is $54.10. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.99. The firm has a market capitalization of $6.52 billion, a P/E ratio of 234.48 and a beta of 0.98.

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MakeMyTrip by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after purchasing an additional 1,721 shares during the period. Daiwa Securities Group Inc. lifted its stake in MakeMyTrip by 24.7% in the second quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock valued at $336,000 after buying an additional 679 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in shares of MakeMyTrip by 9.2% in the second quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company’s stock valued at $1,558,000 after acquiring an additional 1,345 shares during the period. Sei Investments Co. boosted its holdings in shares of MakeMyTrip by 14.9% in the second quarter. Sei Investments Co. now owns 520,853 shares of the technology company’s stock valued at $51,054,000 after acquiring an additional 67,367 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of MakeMyTrip by 108.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company’s stock worth $19,712,000 after acquiring an additional 104,641 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

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.