MakeMyTrip (NASDAQ:MMYT) Trading Down 4.9% – Should You Sell?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price was down 4.9% on Friday . The stock traded as low as $78.63 and last traded at $78.4650. Approximately 430,045 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 722,026 shares. The stock had previously closed at $82.51.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings began coverage on shares of MakeMyTrip in a research note on Thursday, October 30th. They issued a “hold (c)” rating for the company. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Bank of America dropped their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Finally, Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $114.33.

MakeMyTrip Price Performance

The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 38.85. The stock’s 50 day moving average price is $78.41 and its two-hundred day moving average price is $89.41. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 122.89 and a beta of 0.66.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in MMYT. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in MakeMyTrip by 0.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,829 shares of the technology company’s stock valued at $2,230,000 after acquiring an additional 150 shares in the last quarter. GeoWealth Management LLC increased its stake in shares of MakeMyTrip by 4.6% during the 3rd quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock worth $361,000 after purchasing an additional 169 shares during the last quarter. Capital International Sarl raised its holdings in shares of MakeMyTrip by 0.5% during the 3rd quarter. Capital International Sarl now owns 37,903 shares of the technology company’s stock valued at $3,548,000 after purchasing an additional 179 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of MakeMyTrip by 10.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after purchasing an additional 188 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in MakeMyTrip by 23.3% in the second quarter. Signaturefd LLC now owns 1,147 shares of the technology company’s stock worth $112,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.