MakeMyTrip (NASDAQ:MMYT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a report published on Saturday.

MMYT has been the subject of a number of other reports. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research note on Saturday, June 27th. HSBC initiated coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. Zacks Research upgraded MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $86.75.

MakeMyTrip Stock Down 1.2%

MMYT stock opened at $59.70 on Friday. MakeMyTrip has a twelve month low of $32.67 and a twelve month high of $104.43. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 497.50 and a beta of 0.98. The firm’s fifty day simple moving average is $54.00 and its two-hundred day simple moving average is $50.16.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently added to or reduced their stakes in MMYT. Temasek Holdings Private Ltd purchased a new stake in shares of MakeMyTrip in the first quarter valued at approximately $63,447,000. Sei Investments Co. grew its stake in MakeMyTrip by 17.5% in the first quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock worth $24,349,000 after purchasing an additional 97,377 shares in the last quarter. Hsbc Holdings PLC purchased a new position in MakeMyTrip during the 4th quarter worth $4,512,000. Coronation Fund Managers Ltd. increased its holdings in MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after purchasing an additional 280,923 shares during the period. Finally, Bessemer Group Inc. raised its position in MakeMyTrip by 96.4% during the 1st quarter. Bessemer Group Inc. now owns 209,034 shares of the technology company’s stock valued at $7,795,000 after purchasing an additional 102,624 shares in the last quarter. 51.89% of the stock is owned by hedge funds and other 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.