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

MakeMyTrip Limited (NASDAQ:MMYT) has earned an average rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $86.75.

Several research analysts have recently issued reports on the stock. Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research report on Saturday, June 27th. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, HSBC assumed coverage on MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price on the stock.

MakeMyTrip Trading Down 1.8%

MMYT stock opened at $60.31 on Thursday. MakeMyTrip has a twelve month low of $32.67 and a twelve month high of $104.43. The company’s 50 day moving average is $53.01 and its two-hundred day moving average is $50.22. The stock has a market cap of $5.67 billion, a P/E ratio of 502.58 and a beta of 0.98.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MMYT. Leonteq Securities AG acquired a new stake in shares of MakeMyTrip in the fourth quarter valued at approximately $29,000. Parallel Advisors LLC increased its holdings in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of MakeMyTrip in the 4th quarter valued at $46,000. Rakuten Securities Inc. raised its position in MakeMyTrip by 893.9% in the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after purchasing an additional 590 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in MakeMyTrip by 416.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock valued at $56,000 after purchasing an additional 546 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

About MakeMyTrip

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.