ValuEngine Upgrades MakeMyTrip (MMYT) to Buy

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MakeMyTrip (NASDAQ:MMYT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research analysts have also weighed in on the company. Goldman Sachs Group upgraded MakeMyTrip from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $40.00 to $33.00 in a research report on Friday, October 26th. Zacks Investment Research upgraded MakeMyTrip from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, October 17th. TheStreet lowered MakeMyTrip from a “c-” rating to a “d+” rating in a research report on Tuesday, October 9th. Bank of America increased their price objective on MakeMyTrip from $39.50 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Finally, BidaskClub lowered MakeMyTrip from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. MakeMyTrip presently has a consensus rating of “Buy” and an average price target of $31.16.

Shares of MakeMyTrip stock opened at $22.81 on Monday. The company has a market capitalization of $2.38 billion, a P/E ratio of -10.46 and a beta of -0.16. MakeMyTrip has a fifty-two week low of $20.82 and a fifty-two week high of $41.70.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Tuesday, August 14th. The technology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.20). The business had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $164.50 million. MakeMyTrip had a negative return on equity of 11.27% and a negative net margin of 32.59%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.53) earnings per share. As a group, analysts anticipate that MakeMyTrip will post -1.45 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in MakeMyTrip by 1.2% during the second quarter. Baillie Gifford & Co. now owns 2,576,385 shares of the technology company’s stock worth $93,136,000 after purchasing an additional 30,641 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in MakeMyTrip by 31.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,421,580 shares of the technology company’s stock worth $66,473,000 after purchasing an additional 578,820 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in MakeMyTrip by 0.7% during the second quarter. Wasatch Advisors Inc. now owns 2,102,673 shares of the technology company’s stock worth $76,012,000 after purchasing an additional 15,604 shares in the last quarter. Global Thematic Partners LLC lifted its stake in MakeMyTrip by 54.0% during the third quarter. Global Thematic Partners LLC now owns 1,429,250 shares of the technology company’s stock worth $39,234,000 after purchasing an additional 501,192 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in MakeMyTrip by 11.0% during the second quarter. Brown Advisory Inc. now owns 1,047,147 shares of the technology company’s stock worth $37,855,000 after purchasing an additional 104,008 shares in the last quarter. Institutional investors own 43.03% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MakeMyTrip (NASDAQ:MMYT)

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