MakeMyTrip (NASDAQ:MMYT) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of MakeMyTrip (NASDAQ:MMYTGet Rating) from a sell rating to a hold rating in a report published 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. “

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley started coverage on shares of MakeMyTrip in a research report on Thursday, February 24th. They set an equal weight rating and a $29.00 target price on the stock. StockNews.com upgraded shares of MakeMyTrip to a sell rating in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, MakeMyTrip currently has a consensus rating of Hold and an average target price of $33.00.

Shares of NASDAQ MMYT opened at $29.23 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 quick ratio of 2.72, a current ratio of 3.09 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $25.57 and its 200 day simple moving average is $26.43.

Institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its stake in MakeMyTrip by 49.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,587 shares of the technology company’s stock valued at $44,000 after buying an additional 524 shares in the last quarter. Barclays PLC grew its stake in MakeMyTrip by 1,197.4% in the 3rd quarter. Barclays PLC now owns 5,916 shares of the technology company’s stock valued at $161,000 after buying an additional 5,460 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in MakeMyTrip in the 4th quarter valued at approximately $218,000. Cubist Systematic Strategies LLC purchased a new position in shares of MakeMyTrip during the 4th quarter valued at $227,000. Finally, Susquehanna International Group LLP grew its position in shares of MakeMyTrip by 327.3% during the 4th quarter. Susquehanna International Group LLP now owns 8,252 shares of the technology company’s stock valued at $229,000 after purchasing an additional 11,883 shares in the last quarter. Institutional investors and hedge funds own 42.91% of the company’s stock.

About MakeMyTrip (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.

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