Zacks Investment Research upgraded shares of MakeMyTrip Limited (NASDAQ:MMYT) from a hold rating to a buy rating in a research note published on Saturday, November 4th. Zacks Investment Research currently has $31.00 price target on the technology company’s stock.
According to Zacks, “MakeMyTrip Limited is an online travel service company which offers travel products and solutions in India and the United States. The Company’s services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited and MakeMyTrip.com Inc. Through its primary website, www.makemytrip.com, and other technology-enhanced platforms, the Company provides access to all major domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, a wide selection of hotels in and outside India, Indian Railways and several major Indian bus operators. MakeMyTrip Limited is based in Gurgaon, India. “
Several other brokerages have also recently weighed in on MMYT. TheStreet upgraded MakeMyTrip Limited from a d rating to a c- rating in a research report on Tuesday, July 25th. UBS Group AG lowered MakeMyTrip Limited from a buy rating to a sell rating and set a $30.00 price objective for the company. in a report on Wednesday, September 20th. Jefferies Group LLC lowered MakeMyTrip Limited from a buy rating to a hold rating and boosted their price objective for the stock from $19.80 to $32.00 in a report on Thursday, August 10th. Finally, ValuEngine lowered MakeMyTrip Limited from a hold rating to a sell rating in a report on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. MakeMyTrip Limited currently has an average rating of Hold and a consensus price target of $30.10.
MakeMyTrip Limited (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.27. MakeMyTrip Limited had a negative return on equity of 12.74% and a negative net margin of 31.73%. The business had revenue of $139.20 million for the quarter, compared to analysts’ expectations of $110.72 million. During the same period in the previous year, the business posted ($0.61) EPS. The firm’s quarterly revenue was up 161.7% compared to the same quarter last year. sell-side analysts anticipate that MakeMyTrip Limited will post -2.22 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. boosted its stake in MakeMyTrip Limited by 12.7% in the second quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock worth $119,000 after buying an additional 399 shares in the last quarter. Deltec Asset Management LLC lifted its position in MakeMyTrip Limited by 8.0% in the third quarter. Deltec Asset Management LLC now owns 27,000 shares of the technology company’s stock valued at $776,000 after purchasing an additional 2,000 shares during the last quarter. Sei Investments Co. lifted its position in MakeMyTrip Limited by 3.8% in the second quarter. Sei Investments Co. now owns 102,321 shares of the technology company’s stock valued at $3,433,000 after purchasing an additional 3,746 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in MakeMyTrip Limited in the third quarter valued at approximately $135,000. Finally, Jennison Associates LLC lifted its position in MakeMyTrip Limited by 8.7% in the second quarter. Jennison Associates LLC now owns 61,477 shares of the technology company’s stock valued at $2,063,000 after purchasing an additional 4,897 shares during the last quarter. 45.04% of the stock is owned by institutional investors and hedge funds.
About MakeMyTrip Limited
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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