Analysts Set MakeMyTrip Limited (NASDAQ:MMYT) Target Price at $86.75

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $86.75.

A number of brokerages have recently issued reports on MMYT. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research report on Saturday, June 27th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Zacks Research lowered MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, HSBC began coverage on MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price on the stock.

MakeMyTrip Trading Up 2.1%

MMYT stock opened at $50.09 on Monday. The stock has a market cap of $4.71 billion, a PE ratio of 417.42 and a beta of 1.00. MakeMyTrip has a 12 month low of $32.67 and a 12 month high of $103.24. The company has a 50-day moving average price of $57.10 and a 200 day moving average price of $50.02.

Institutional Trading of MakeMyTrip

Several institutional investors and hedge funds have recently bought and sold shares of the business. Carrhae Capital LLP lifted its position in MakeMyTrip by 47.0% during the second quarter. Carrhae Capital LLP now owns 221,385 shares of the technology company’s stock valued at $11,798,000 after purchasing an additional 70,823 shares during the period. Carmignac Gestion lifted its holdings in shares of MakeMyTrip by 32.9% in the 2nd quarter. Carmignac Gestion now owns 40,452 shares of the technology company’s stock valued at $2,156,000 after buying an additional 10,024 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of MakeMyTrip in the second quarter worth about $1,704,000. Flossbach Von Storch SE purchased a new stake in shares of MakeMyTrip in the second quarter worth about $2,664,000. Finally, Wasatch Advisors LP grew its holdings in MakeMyTrip by 5.7% during the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock worth $131,811,000 after acquiring an additional 133,723 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Company Profile

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.