MakeMyTrip Limited (NASDAQ:MMYT) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $73.50.

Several research analysts have weighed in on MMYT shares. Zacks Research cut shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. HSBC began coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective for the company. Bank of America decreased their target price on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, September 28th. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a report on Saturday, June 27th.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $43.37 on Friday. The company has a market cap of $4.08 billion, a P/E ratio of 361.42 and a beta of 1.07. The firm’s fifty day moving average price is $54.48 and its two-hundred day moving average price is $49.57. MakeMyTrip has a one year low of $32.67 and a one year high of $96.60.

Institutional Investors Weigh In On MakeMyTrip

Large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in MakeMyTrip by 53.8% in the first quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock valued at $130,464,000 after acquiring an additional 1,223,963 shares during the last quarter. Wasatch Advisors LP increased its position in MakeMyTrip by 5.7% during the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock worth $131,811,000 after purchasing an additional 133,723 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in MakeMyTrip by 1.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after purchasing an additional 40,712 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in MakeMyTrip by 11.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,935,142 shares of the technology company’s stock valued at $158,914,000 after purchasing an additional 199,699 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in MakeMyTrip in the fourth quarter valued at approximately $150,069,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

About MakeMyTrip

MakeMyTrip Limited is an online travel company that operates consumer travel platforms in India and other markets. Founded in 2000 by Deep Kalra, the company provides digital tools for researching, planning and booking travel through its websites and mobile applications.

Its services include airline and rail ticketing, hotel and accommodation reservations, holiday packages, bus tickets, car rentals and airport transfers. MakeMyTrip also offers travel-related services such as activities, travel insurance and other ancillary products, depending on the market and booking channel.

The company operates the MakeMyTrip and Goibibo brands, as well as the redBus intercity bus-ticketing platform.