MakeMyTrip Limited (NASDAQ:MMYT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $106.3333.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Bank of America lowered their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, Citigroup lowered their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st.

Institutional Trading of MakeMyTrip

A number of hedge funds have recently made changes to their positions in MMYT. Parallel Advisors LLC boosted its stake in shares of MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the period. First Horizon Advisors Inc. acquired a new position in MakeMyTrip in the 2nd quarter worth $43,000. Stone House Investment Management LLC boosted its position in MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after buying an additional 200 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in MakeMyTrip in the 2nd quarter valued at about $50,000. Finally, Rakuten Securities Inc. grew its stake in shares of MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after acquiring an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $62.06 on Friday. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 129.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.66. MakeMyTrip has a 12 month low of $60.22 and a 12 month high of $120.72. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The stock’s 50-day moving average is $76.43 and its 200-day moving average is $86.96.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The firm had revenue of $295.70 million during the quarter, compared to the consensus estimate of $306.29 million. Equities analysts anticipate that MakeMyTrip will post 1.27 earnings per share for the current year.

MakeMyTrip Company Profile

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.