MakeMyTrip (NASDAQ:MMYT – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.
Separately, Bank of America increased their price target on MakeMyTrip from $88.00 to $95.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.67.
Read Our Latest Report on MakeMyTrip
MakeMyTrip Stock Up 4.2 %
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last issued its earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $202.89 million during the quarter, compared to the consensus estimate of $195.15 million. MakeMyTrip had a return on equity of 10.66% and a net margin of 27.70%. As a group, equities research analysts forecast that MakeMyTrip will post 1.31 earnings per share for the current fiscal year.
Institutional Trading of MakeMyTrip
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of MakeMyTrip by 12.3% during the 4th quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock worth $331,000 after acquiring an additional 774 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of MakeMyTrip by 4.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,490 shares of the technology company’s stock worth $963,000 after acquiring an additional 799 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of MakeMyTrip in the fourth quarter worth $50,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of MakeMyTrip by 3.6% in the first quarter. Orion Portfolio Solutions LLC now owns 37,918 shares of the technology company’s stock worth $2,694,000 after buying an additional 1,321 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.
MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.
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