MakeMyTrip Limited (NASDAQ:MMYT) Receives $106.33 Average Target Price from Analysts

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $106.3333.

MMYT has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Bank of America cut their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Citigroup decreased their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings began coverage on MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating on the stock.

Institutional Trading of MakeMyTrip

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group boosted its position in shares of MakeMyTrip by 42.4% during the 2nd quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock valued at $551,658,000 after purchasing an additional 1,674,538 shares in the last quarter. Norges Bank bought a new position in shares of MakeMyTrip during the 2nd quarter worth approximately $104,635,000. Massachusetts Financial Services Co. MA grew its position in shares of MakeMyTrip by 112.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after buying an additional 826,143 shares during the period. Man Group plc lifted its position in shares of MakeMyTrip by 6,434.6% during the 2nd quarter. Man Group plc now owns 632,747 shares of the technology company’s stock valued at $62,022,000 after acquiring an additional 623,064 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its stake in MakeMyTrip by 233.0% during the third quarter. Coronation Fund Managers Ltd. now owns 865,168 shares of the technology company’s stock worth $80,980,000 after acquiring an additional 605,388 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $62.77 on Friday. MakeMyTrip has a 52-week low of $62.01 and a 52-week high of $120.72. The company has a market cap of $6.98 billion, a P/E ratio of 130.77, a P/E/G ratio of 2.19 and a beta of 0.66. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The stock’s 50-day simple moving average is $76.91 and its 200 day simple moving average is $87.32.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. As a group, sell-side analysts forecast that MakeMyTrip will post 1.27 EPS for the current fiscal 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.