MakeMyTrip (NASDAQ:MMYT) Shares Gap Down to $31.64

Shares of MakeMyTrip Limited (NASDAQ:MMYT) gapped down before the market opened on Tuesday . The stock had previously closed at $31.64, but opened at $30.91. MakeMyTrip shares last traded at $31.16, with a volume of 600 shares trading hands.

Several equities analysts recently issued reports on the stock. Citigroup lifted their price target on shares of MakeMyTrip from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Zacks Investment Research upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, September 22nd.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.92 and a current ratio of 2.92. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -72.62 and a beta of 1.17. The firm’s 50-day simple moving average is $26.61 and its two-hundred day simple moving average is $27.65.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Tuesday, July 27th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). MakeMyTrip had a negative return on equity of 5.26% and a negative net margin of 24.04%. The business had revenue of $32.83 million for the quarter. Equities research analysts expect that MakeMyTrip Limited will post 0.1 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. UBS Group AG grew its position in shares of MakeMyTrip by 84,533.3% during the 1st quarter. UBS Group AG now owns 2,539 shares of the technology company’s stock worth $80,000 after buying an additional 2,536 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of MakeMyTrip by 76.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 5,750 shares of the technology company’s stock worth $181,000 after buying an additional 2,500 shares during the period. Tudor Investment Corp Et Al acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $209,000. Bridgefront Capital LLC acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $218,000. Finally, Blueshift Asset Management LLC bought a new position in MakeMyTrip during the 2nd quarter worth approximately $230,000. Institutional investors own 38.12% of the company’s stock.

About MakeMyTrip (NASDAQ:MMYT)

MakeMyTrip Ltd. is an online travel company. Its services and products include air ticketing, hotels and packages, rail tickets, bus tickets, car hire, experiences and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing. The company’s brands include MakeMyTrip, goibibo, and redbus.

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