MakeMyTrip (NASDAQ:MMYT) Stock Price Down 7.8% – Time to Sell?

MakeMyTrip Limited (NASDAQ:MMYT) shares fell 7.8% on Thursday . The stock traded as low as $104.44 and last traded at $104.58. 396,823 shares changed hands during trading, a decline of 46% from the average session volume of 729,561 shares. The stock had previously closed at $113.45.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MMYT. Citigroup upped their price objective on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America upped their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Monday, November 4th.

MakeMyTrip Price Performance

The company has a 50 day moving average price of $100.52 and a 200-day moving average price of $89.82. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 58.37, a P/E/G ratio of 6.38 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, equities research analysts predict that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new position in shares of MakeMyTrip during the 1st quarter worth approximately $472,000. Tidal Investments LLC bought a new position in shares of MakeMyTrip in the 1st quarter worth $3,891,000. Vanguard Group Inc. bought a new position in shares of MakeMyTrip in the 1st quarter worth $2,317,000. 1832 Asset Management L.P. bought a new position in shares of MakeMyTrip in the 2nd quarter worth $879,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of MakeMyTrip by 117.5% in the 1st quarter. Russell Investments Group Ltd. now owns 234,203 shares of the technology company’s stock worth $16,640,000 after purchasing an additional 126,505 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Company Profile

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.