MakeMyTrip (NASDAQ:MMYT) Sets New 12-Month Low – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $47.58 and last traded at $49.38, with a volume of 127340 shares traded. The stock had previously closed at $50.31.

Analyst Ratings Changes

Several brokerages have commented on MMYT. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. 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. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Citigroup decreased their target price on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Trading Down 2.5%

The firm has a 50-day moving average of $64.73 and a two-hundred day moving average of $79.16. The firm has a market capitalization of $5.46 billion, a P/E ratio of 102.85, a P/E/G ratio of 1.79 and a beta of 0.64. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. On average, analysts anticipate that MakeMyTrip Limited will post 1.27 EPS for the current year.

Institutional Trading of MakeMyTrip

Several hedge funds and other institutional investors have recently modified their holdings of MMYT. Leonteq Securities AG bought a new position in MakeMyTrip in the 4th quarter worth about $29,000. Parallel Advisors LLC lifted its position 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 purchasing an additional 284 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in MakeMyTrip in the second quarter worth $43,000. Kestra Advisory Services LLC bought a new stake in MakeMyTrip during the fourth quarter worth about $46,000. Finally, Stone House Investment Management LLC boosted its stake in 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 buying an additional 200 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

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.