MakeMyTrip (NASDAQ:MMYT) Shares Down 4.6% – Time to Sell?

MakeMyTrip Limited (NASDAQ:MMYT) dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $48.76 and last traded at $48.5610. Approximately 713,851 shares changed hands during trading, a decline of 63% from the average daily volume of 1,924,621 shares. The stock had previously closed at $50.91.

Analyst Ratings Changes

Several analysts have weighed in on MMYT shares. Bank of America cut their target price on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Citigroup cut their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Finally, Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Four investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.33.

MakeMyTrip Trading Down 2.8%

The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The business has a fifty day moving average of $66.00 and a 200-day moving average of $80.16. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 107.20, a price-to-earnings-growth ratio of 1.69 and a beta of 0.64.

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

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Leonteq Securities AG acquired a new position in shares of MakeMyTrip in the 4th quarter valued at $29,000. Parallel Advisors LLC lifted its stake in MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after buying an additional 284 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in MakeMyTrip during the second quarter valued at about $43,000. Kestra Advisory Services LLC acquired a new position in shares of MakeMyTrip in the fourth quarter worth about $46,000. Finally, Stone House Investment Management LLC increased its position in shares of MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after acquiring an additional 200 shares in the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

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.