Trading Report: Today: MakeMyTrip’s (MMYT) Buy Rating Reiterate at Jefferies Group

Today: MakeMyTrip’s (MMYT) Buy Rating Reiterate at Jefferies Group

MakeMyTrip Ltd. (NASDAQ:MMYT)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a research note issued on Monday.

Separately, Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.34.

Shares of MakeMyTrip (NASDAQ:MMYT) traded up 1.88% during trading on Monday, reaching $24.45. 238,868 shares of the company traded hands. The company’s market capitalization is $1.02 billion. MakeMyTrip has a 52 week low of $13.69 and a 52 week high of $31.90. The company’s 50-day moving average price is $25.77 and its 200-day moving average price is $19.84.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.05. The company had revenue of $83.10 million for the quarter, compared to analysts’ expectations of $50.67 million. MakeMyTrip had a negative net margin of 32.90% and a negative return on equity of 149.89%. MakeMyTrip’s revenue was up 46.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS. Equities research analysts forecast that MakeMyTrip will post ($2.41) EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MMYT. Wellington Management Group LLP bought a new position in MakeMyTrip during the first quarter valued at about $13,065,000. Ward Ferry Management BVI Ltd boosted its position in shares of MakeMyTrip by 81.6% in the second quarter. Ward Ferry Management BVI Ltd now owns 2,832,226 shares of the company’s stock valued at $42,087,000 after buying an additional 1,272,300 shares during the period. First Trust Advisors LP boosted its position in shares of MakeMyTrip by 200.9% in the second quarter. First Trust Advisors LP now owns 223,544 shares of the company’s stock valued at $3,322,000 after buying an additional 149,240 shares during the period. New Vernon Capital Holdings II LLC acquired a new position in shares of MakeMyTrip during the second quarter valued at $668,000. Finally, Westpac Banking Corp boosted its position in shares of MakeMyTrip by 43.0% in the second quarter. Westpac Banking Corp now owns 82,480 shares of the company’s stock valued at $1,226,000 after buying an additional 24,808 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

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