MakeMyTrip Limited (NASDAQ:MMYT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $106.3333.

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Citigroup decreased their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Finally, Bank of America dropped 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.

MakeMyTrip Stock Performance

Shares of MMYT opened at $57.15 on Thursday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50 day moving average is $72.46 and its 200-day moving average is $83.13. MakeMyTrip has a 12-month low of $53.09 and a 12-month high of $113.85. The stock has a market capitalization of $6.36 billion, a P/E ratio of 119.06, a P/E/G ratio of 1.95 and a beta of 0.64.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. Equities research analysts anticipate that MakeMyTrip will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in MakeMyTrip by 780.3% in the 4th quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after buying an additional 2,016,281 shares during the period. Capital Research Global Investors acquired a new stake in shares of MakeMyTrip during the 4th quarter valued at about $150,069,000. Schroder Investment Management Group boosted its position in shares of MakeMyTrip by 42.4% during the 2nd quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock valued at $551,658,000 after acquiring an additional 1,674,538 shares in the last quarter. Norges Bank bought a new stake in MakeMyTrip in the fourth quarter valued at about $90,284,000. Finally, Massachusetts Financial Services Co. MA raised its position in MakeMyTrip by 112.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after purchasing an additional 826,143 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

About MakeMyTrip

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.