MakeMyTrip (NASDAQ:MMYT) Given New $80.00 Price Target at Citigroup

MakeMyTrip (NASDAQ:MMYT) had its price objective reduced by Citigroup from $96.00 to $80.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts also recently commented on the stock. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Bank of America cut their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Finally, Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.00.

MakeMyTrip Stock Up 5.5%

MakeMyTrip stock opened at $43.09 on Monday. MakeMyTrip has a 1-year low of $32.67 and a 1-year high of $113.85. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 89.77, a P/E/G ratio of 1.66 and a beta of 0.83. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The firm has a 50 day simple moving average of $48.72 and a 200 day simple moving average of $69.00.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The business had revenue of $295.70 million during the quarter, compared to analyst estimates of $306.29 million. On average, analysts predict that MakeMyTrip will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Leonteq Securities AG bought a new position in MakeMyTrip in the 4th quarter valued at $29,000. Parallel Advisors LLC lifted its holdings in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after acquiring an additional 284 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of MakeMyTrip during the 4th quarter worth $46,000. Stone House Investment Management LLC lifted its holdings in shares of MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after acquiring an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after acquiring an additional 590 shares during the last quarter. 51.89% of the stock is 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.