MakeMyTrip (NASDAQ:MMYT) Stock Price Down 6.4% – Should You Sell?

by · The Cerbat Gem

Shares of MakeMyTrip Limited (NASDAQ:MMYT – Get Free Report) dropped 6.4% during mid-day trading on Wednesday . The company traded as low as $51.47 and last traded at $50.4520. 142,736 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,315,489 shares. The stock had previously closed at $53.90.

Analyst Ratings Changes

MMYT has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a research report on Saturday, June 27th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. HSBC began coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.75.

Check Out Our Latest Analysis on MMYT

MakeMyTrip Trading Up 0.0%

The stock has a market capitalization of $4.62 billion, a PE ratio of 409.00 and a beta of 1.00. The business’s 50 day moving average is $57.26 and its 200 day moving average is $50.02.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new position in shares of MakeMyTrip during the fourth quarter worth approximately $29,000. Parallel Advisors LLC raised its holdings in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after purchasing an additional 284 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of MakeMyTrip during the fourth quarter valued at about $46,000. Rockefeller Capital Management L.P. grew its holdings in shares of MakeMyTrip by 416.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock valued at $56,000 after buying an additional 546 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of MakeMyTrip by 74.3% in the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after purchasing an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Company Profile

(Get Free Report)

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.

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