MakeMyTrip (MMYT) Cut to “D+” at TheStreet
MakeMyTrip (NASDAQ:MMYT) was downgraded by TheStreet from a “c-” rating to a “d+” rating in a report issued on Tuesday.
MMYT has been the topic of a number of other research reports. Zacks Investment Research raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. BidaskClub cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Goldman Sachs Group cut shares of MakeMyTrip from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Tuesday, June 12th. They noted that the move was a valuation call. Jefferies Financial Group raised shares of MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 target price on the stock in a research note on Wednesday, August 15th. Finally, Bank of America decreased their target price on shares of MakeMyTrip from $40.00 to $39.50 and set a “buy” rating on the stock in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. MakeMyTrip currently has an average rating of “Hold” and an average price target of $36.36.
Shares of MMYT opened at $22.58 on Tuesday. MakeMyTrip has a one year low of $22.40 and a one year high of $41.70. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -10.36 and a beta of -0.16.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its stake in shares of MakeMyTrip by 824.4% during the first quarter. Barclays PLC now owns 2,921 shares of the technology company’s stock worth $101,000 after buying an additional 2,605 shares during the last quarter. Citigroup Inc. grew its stake in shares of MakeMyTrip by 123.6% during the first quarter. Citigroup Inc. now owns 3,454 shares of the technology company’s stock worth $120,000 after buying an additional 1,909 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of MakeMyTrip during the second quarter worth $200,000. Cubist Systematic Strategies LLC bought a new stake in shares of MakeMyTrip during the first quarter worth $241,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of MakeMyTrip during the third quarter worth $235,000. 43.00% of the stock is currently owned by hedge funds and other institutional investors.
MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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