MakeMyTrip (NASDAQ:MMYT) Sets New 1-Year Low – Here’s Why

MakeMyTrip Limited (NASDAQ:MMYT) shares reached a new 52-week low on Tuesday . The company traded as low as $39.20 and last traded at $39.9030, with a volume of 481892 shares trading hands. The stock had previously closed at $40.67.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MMYT shares. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Bank of America cut their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Citigroup cut their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.33.

MakeMyTrip Trading Up 0.3%

The firm’s 50 day moving average price is $57.28 and its 200-day moving average price is $75.22. The stock has a market cap of $4.54 billion, a P/E ratio of 84.98, a P/E/G ratio of 1.37 and a beta of 0.64. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results 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 the consensus estimate of $306.29 million. As a group, equities research analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG acquired a new stake in MakeMyTrip during the fourth quarter valued at $29,000. Parallel Advisors LLC grew its position in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of MakeMyTrip in the 4th quarter valued at about $46,000. Stone House Investment Management LLC raised its holdings in MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares during the period. Finally, Rakuten Securities Inc. boosted its position in MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after purchasing an additional 590 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

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.