MakeMyTrip (NASDAQ:MMYT) Stock Rating Lowered by Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other research analysts have also issued reports about the stock. Macquarie upgraded shares of MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Tuesday, June 24th. Citigroup cut their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $120.00.

MakeMyTrip Trading Up 0.1%

Shares of MMYT stock opened at $94.45 on Friday. The firm has a market cap of $10.51 billion, a P/E ratio of 109.83 and a beta of 0.81. MakeMyTrip has a 1-year low of $81.84 and a 1-year high of $123.00. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.15. The firm’s 50-day simple moving average is $97.52 and its 200-day simple moving average is $99.08.

Institutional Trading of MakeMyTrip

A number of hedge funds and other institutional investors have recently made changes to their positions in MMYT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of MakeMyTrip by 9,724.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company’s stock worth $2,364,732,000 after buying an additional 23,886,735 shares during the last quarter. New Vernon Capital Holdings II LLC increased its stake in shares of MakeMyTrip by 9,699.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company’s stock worth $503,992,000 after buying an additional 5,090,811 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of MakeMyTrip by 42.4% in the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after buying an additional 1,674,538 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of MakeMyTrip by 40.0% in the first quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company’s stock worth $505,158,000 after buying an additional 1,471,660 shares during the last quarter. Finally, GQG Partners LLC boosted its holdings in MakeMyTrip by 273.2% in the first quarter. GQG Partners LLC now owns 2,009,506 shares of the technology company’s stock worth $196,911,000 after purchasing an additional 1,470,985 shares during the period. Institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

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, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.