MakeMyTrip (NASDAQ:MMYT) Stock Rating Upgraded by Zacks Investment Research

MakeMyTrip (NASDAQ:MMYTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

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. “

MMYT has been the topic of a number of other research reports. StockNews.com raised shares of MakeMyTrip to a “sell” rating in a research report on Friday, May 6th. Morgan Stanley initiated coverage on shares of MakeMyTrip in a research note on Thursday, February 24th. They issued an “equal weight” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.67.

MMYT opened at $24.22 on Thursday. MakeMyTrip has a fifty-two week low of $20.06 and a fifty-two week high of $36.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 2.72. The company has a fifty day moving average of $25.16 and a 200 day moving average of $26.83. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -71.23 and a beta of 1.25.

Institutional investors have recently made changes to their positions in the company. Baader Bank INC lifted its holdings in shares of MakeMyTrip by 30.0% during the first quarter. Baader Bank INC now owns 26,000 shares of the technology company’s stock valued at $697,000 after purchasing an additional 6,000 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of MakeMyTrip in the 1st quarter worth approximately $716,000. RBF Capital LLC raised its holdings in shares of MakeMyTrip by 1.6% in the 1st quarter. RBF Capital LLC now owns 314,436 shares of the technology company’s stock worth $8,491,000 after buying an additional 5,000 shares in the last quarter. State Street Corp raised its holdings in shares of MakeMyTrip by 28.7% in the 1st quarter. State Street Corp now owns 65,399 shares of the technology company’s stock worth $1,755,000 after buying an additional 14,577 shares in the last quarter. Finally, UBS Group AG increased its holdings in MakeMyTrip by 709.2% during the 1st quarter. UBS Group AG now owns 71,754 shares of the technology company’s stock valued at $1,926,000 after purchasing an additional 62,887 shares in the last quarter. Institutional investors and hedge funds own 42.91% of the company’s stock.

MakeMyTrip Company Profile (Get Rating)

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, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance.

See Also

Get a free copy of the Zacks research report on MakeMyTrip (MMYT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MakeMyTrip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip and related companies with MarketBeat.com's FREE daily email newsletter.