MakeMyTrip (NASDAQ:MMYT) Trading 9.4% Higher – Still a Buy?

MakeMyTrip Limited (NASDAQ:MMYT) was up 9.4% during mid-day trading on Wednesday . The company traded as high as $58.34 and last traded at $58.3250. Approximately 963,865 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,557,351 shares. The stock had previously closed at $53.29.

Analysts Set New Price Targets

Several research firms have commented on MMYT. The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a report on Saturday. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.33.

MakeMyTrip Stock Up 9.0%

The business has a 50 day moving average of $46.01 and a two-hundred day moving average of $55.34. The stock has a market capitalization of $6.46 billion, a PE ratio of 232.36 and a beta of 1.01. The company has a debt-to-equity ratio of 38.85, a quick ratio of 3.05 and a current ratio of 3.05.

Institutional Trading of MakeMyTrip

A number of institutional investors have recently modified their holdings of MMYT. Schroder Investment Management Group raised its stake in shares of MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after acquiring an additional 869,728 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of MakeMyTrip by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after purchasing an additional 114,975 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of MakeMyTrip by 53.8% during the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock valued at $130,464,000 after purchasing an additional 1,223,963 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MakeMyTrip by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock valued at $201,064,000 after purchasing an additional 371,066 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of MakeMyTrip by 64.2% in the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock worth $87,249,000 after purchasing an additional 914,402 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

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.