MakeMyTrip Limited (NASDAQ:MMYT) Receives $114.33 Consensus Price Target from Analysts

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $114.3333.

Several research firms have recently weighed in on MMYT. Weiss Ratings started coverage on shares of MakeMyTrip in a report on Thursday, October 30th. They set a “hold (c)” rating for the company. Bank of America decreased their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday. Finally, Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd.

MakeMyTrip Stock Down 0.3%

MMYT opened at $81.89 on Wednesday. The company has a market capitalization of $9.11 billion, a P/E ratio of 127.96 and a beta of 0.66. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.91 and a quick ratio of 1.91. The firm’s fifty day moving average price is $78.39 and its two-hundred day moving average price is $89.82. MakeMyTrip has a fifty-two week low of $69.69 and a fifty-two week high of $122.35.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Axiom Investors LLC DE lifted its position in shares of MakeMyTrip by 20.4% during the first quarter. Axiom Investors LLC DE now owns 771,932 shares of the technology company’s stock worth $75,642,000 after purchasing an additional 130,702 shares in the last quarter. Vident Advisory LLC raised its position in MakeMyTrip by 6.2% in the 1st quarter. Vident Advisory LLC now owns 18,748 shares of the technology company’s stock worth $1,837,000 after purchasing an additional 1,095 shares during the last quarter. Twin Tree Management LP bought a new position in MakeMyTrip in the 1st quarter worth approximately $29,000. KADENSA CAPITAL Ltd acquired a new position in MakeMyTrip during the 1st quarter worth $17,213,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in MakeMyTrip by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after buying an additional 1,721 shares during the last quarter. 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.