MakeMyTrip (NASDAQ:MMYT) Upgraded at BidaskClub
A number of other research firms also recently issued reports on MMYT. ValuEngine downgraded shares of MakeMyTrip from a buy rating to a hold rating in a research report on Thursday, August 15th. Bank of America upgraded shares of MakeMyTrip from an underperform rating to a buy rating and boosted their target price for the company from $22.50 to $27.00 in a research report on Monday, November 4th. TheStreet downgraded shares of MakeMyTrip from a c- rating to a d+ rating in a research report on Tuesday, October 8th. Goldman Sachs Group set a $32.00 target price on shares of MakeMyTrip and gave the company a buy rating in a research report on Monday, September 23rd. Finally, Zacks Investment Research upgraded shares of MakeMyTrip from a sell rating to a hold rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $30.25.
Shares of NASDAQ:MMYT traded down $0.21 during trading on Wednesday, reaching $26.49. 611,000 shares of the company were exchanged, compared to its average volume of 278,003. The firm has a market capitalization of $2.83 billion, a PE ratio of -16.45 and a beta of 0.38. The business’s fifty day simple moving average is $23.18 and its 200-day simple moving average is $24.42. MakeMyTrip has a 12-month low of $19.66 and a 12-month high of $32.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.69 and a quick ratio of 1.84.
Several institutional investors have recently modified their holdings of MMYT. Coronation Fund Managers Ltd. raised its position in shares of MakeMyTrip by 4,351.2% in the third quarter. Coronation Fund Managers Ltd. now owns 1,298,225 shares of the technology company’s stock worth $29,456,000 after acquiring an additional 1,269,059 shares during the period. Brown Advisory Inc. raised its position in shares of MakeMyTrip by 18.7% in the second quarter. Brown Advisory Inc. now owns 2,607,430 shares of the technology company’s stock worth $64,664,000 after acquiring an additional 411,306 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of MakeMyTrip by 7.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,216,018 shares of the technology company’s stock worth $95,662,000 after acquiring an additional 308,040 shares during the period. Wasatch Advisors Inc. raised its position in shares of MakeMyTrip by 7.6% in the second quarter. Wasatch Advisors Inc. now owns 2,244,401 shares of the technology company’s stock worth $55,661,000 after acquiring an additional 157,753 shares during the period. Finally, Conning Inc. acquired a new position in shares of MakeMyTrip in the third quarter worth about $1,761,000. Institutional investors and hedge funds own 43.51% of the company’s stock.
MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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