MakeMyTrip (NASDAQ:MMYT) Share Price Passes Above Two Hundred Day Moving Average of $51.40

MakeMyTrip Limited (NASDAQ:MMYT) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $51.40 and traded as high as $63.54. MakeMyTrip shares last traded at $61.22, with a volume of 821,738 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MMYT. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Macquarie cut shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $50.00 to $60.00 in a report on Wednesday, February 21st.

MakeMyTrip Price Performance

The company’s fifty day simple moving average is $64.12 and its two-hundred day simple moving average is $51.40. The stock has a market capitalization of $6.50 billion, a PE ratio of 133.09 and a beta of 1.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. MakeMyTrip had a return on equity of 10.13% and a net margin of 6.93%. The firm had revenue of $214.22 million during the quarter, compared to analyst estimates of $210.01 million. As a group, sell-side analysts predict that MakeMyTrip Limited will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of MakeMyTrip by 1,000.0% in the 1st quarter. Quarry LP now owns 1,210 shares of the technology company’s stock worth $30,000 after buying an additional 1,100 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of MakeMyTrip during the 4th quarter worth approximately $50,000. Belpointe Asset Management LLC lifted its holdings in shares of MakeMyTrip by 20.8% in the 1st quarter. Belpointe Asset Management LLC now owns 2,416 shares of the technology company’s stock worth $59,000 after purchasing an additional 416 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in MakeMyTrip by 449.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,398 shares of the technology company’s stock worth $138,000 after buying an additional 2,780 shares during the last quarter. Finally, Legal & General Group Plc increased its position in MakeMyTrip by 89.1% in the third quarter. Legal & General Group Plc now owns 3,683 shares of the technology company’s stock worth $149,000 after buying an additional 1,735 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.