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

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been given an average rating of “Moderate Buy” by the five analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $106.3333.

A number of brokerages have recently commented on MMYT. Citigroup dropped their target price on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, January 21st. Bank of America decreased their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th.

Institutional Trading of MakeMyTrip

A number of hedge funds have recently made changes to their positions in MMYT. Federated Hermes Inc. increased its holdings in shares of MakeMyTrip by 2,438.5% during the second quarter. Federated Hermes Inc. now owns 152,995 shares of the technology company’s stock valued at $14,997,000 after acquiring an additional 146,968 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in MakeMyTrip in the 2nd quarter worth about $30,005,000. Helios Capital Management PTE. Ltd. purchased a new stake in MakeMyTrip during the 3rd quarter valued at about $2,574,000. Seven Grand Managers LLC purchased a new stake in MakeMyTrip during the 2nd quarter valued at about $7,352,000. Finally, Massachusetts Financial Services Co. MA increased its stake in MakeMyTrip by 181.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,734 shares of the technology company’s stock valued at $69,052,000 after purchasing an additional 475,248 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Trading Down 0.1%

MMYT opened at $45.50 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. MakeMyTrip has a 52 week low of $45.04 and a 52 week high of $113.85. The stock has a market cap of $5.06 billion, a PE ratio of 94.79, a PEG ratio of 1.56 and a beta of 0.64. The business has a 50 day moving average of $61.90 and a 200-day moving average of $77.58.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. The company 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 predict that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

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.