MakeMyTrip (NASDAQ:MMYT) Price Target Cut to $113.00 by Analysts at Bank of America

MakeMyTrip (NASDAQ:MMYT) had its price target trimmed by Bank of America from $115.00 to $113.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on MMYT. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Weiss Ratings initiated coverage on shares of MakeMyTrip in a report on Thursday, October 30th. They set a “hold (c)” rating for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MakeMyTrip currently has an average rating of “Moderate Buy” and an average price target of $114.33.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $84.67 on Wednesday. The stock’s fifty day simple moving average is $79.34 and its 200 day simple moving average is $90.58. MakeMyTrip has a one year low of $69.69 and a one year high of $122.35. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 132.30 and a beta of 0.70. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.91 and a quick ratio of 1.91.

Institutional Trading of MakeMyTrip

A number of hedge funds and other institutional investors have recently modified their holdings of MMYT. Hudson Bay Capital Management LP lifted its holdings in MakeMyTrip by 107.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock worth $7,582,000 after buying an additional 41,999 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of MakeMyTrip during the third quarter worth $231,000. Advisory Services Network LLC acquired a new position in shares of MakeMyTrip during the third quarter valued at $124,000. Central Asset Investments & Management Holdings HK Ltd bought a new position in MakeMyTrip in the third quarter valued at about $281,000. Finally, XTX Topco Ltd acquired a new stake in MakeMyTrip in the third quarter worth about $1,313,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.