MakeMyTrip (MMYT) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a buy rating in a research report report published on Wednesday.
MMYT has been the subject of several other research reports. Zacks Investment Research upgraded shares of MakeMyTrip from a sell rating to a hold rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upgraded shares of MakeMyTrip from a neutral rating to an overweight rating and set a $36.00 price objective for the company in a research report on Tuesday, February 27th. TheStreet upgraded shares of MakeMyTrip from a d rating to a c- rating in a research report on Friday, February 23rd. Goldman Sachs Group began coverage on shares of MakeMyTrip in a research report on Thursday, November 30th. They issued a buy rating and a $36.00 price objective for the company. Finally, Jefferies Group set a $30.00 price objective on shares of MakeMyTrip and gave the company a hold rating in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $32.60.
Shares of MakeMyTrip (MMYT) traded down $0.65 during trading on Wednesday, hitting $33.70. 446,433 shares of the company were exchanged, compared to its average volume of 367,941. The firm has a market cap of $3,089.52, a PE ratio of -12.53 and a beta of -0.01. MakeMyTrip has a 1-year low of $22.40 and a 1-year high of $40.90.
A number of institutional investors and hedge funds have recently bought and sold shares of MMYT. California Public Employees Retirement System acquired a new stake in MakeMyTrip in the 2nd quarter valued at about $262,000. State Street Corp boosted its stake in shares of MakeMyTrip by 17.2% in the 2nd quarter. State Street Corp now owns 33,868 shares of the technology company’s stock valued at $1,136,000 after purchasing an additional 4,966 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of MakeMyTrip by 16.5% in the 3rd quarter. First Trust Advisors LP now owns 281,145 shares of the technology company’s stock valued at $8,083,000 after purchasing an additional 39,877 shares during the last quarter. Westpac Banking Corp boosted its stake in shares of MakeMyTrip by 144.5% in the 3rd quarter. Westpac Banking Corp now owns 26,900 shares of the technology company’s stock valued at $773,000 after purchasing an additional 15,900 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of MakeMyTrip by 17.0% in the 3rd quarter. Jennison Associates LLC now owns 71,956 shares of the technology company’s stock valued at $2,069,000 after purchasing an additional 10,479 shares during the last quarter. Hedge funds and other institutional investors own 46.82% of the company’s stock.
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MakeMyTrip Company Profile
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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