MakeMyTrip Limited (NASDAQ:MMYT) Receives $86.75 Consensus Target Price from Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $86.75.

MMYT has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a research note on Saturday, June 27th. Zacks Research lowered MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, HSBC started coverage on MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price for the company.

Institutional Trading of MakeMyTrip

Several hedge funds and other institutional investors have recently made changes to their positions in MMYT. Leonteq Securities AG bought a new position in shares of MakeMyTrip during the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of MakeMyTrip by 74.3% during the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after purchasing an additional 422 shares during the last quarter. Parallel Advisors LLC raised its stake in MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after buying an additional 284 shares during the last quarter. Kestra Advisory Services LLC bought a new position in MakeMyTrip in the fourth quarter valued at about $46,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of MakeMyTrip by 416.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after purchasing an additional 546 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

Shares of MMYT opened at $50.09 on Monday. MakeMyTrip has a 1-year low of $32.67 and a 1-year high of $103.24. The company has a market capitalization of $4.71 billion, a P/E ratio of 417.42 and a beta of 1.00. The firm’s 50 day simple moving average is $57.10 and its 200 day simple moving average is $49.98.

About MakeMyTrip

MakeMyTrip Limited is an online travel company serving consumers in India and enabling domestic and international travel bookings. Through its digital platforms and mobile applications, the company offers air tickets, hotel and accommodation reservations, holiday packages, bus tickets, rail tickets, and car-rental and travel-related services.

MakeMyTrip operates a portfolio of recognized travel brands, including MakeMyTrip, goibibo, and redBus. The platforms allow customers to compare and book travel products, while also providing travel suppliers with distribution and customer-acquisition services.