MakeMyTrip (NASDAQ:MMYT) Upgraded at Zacks Research

Zacks Research upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a strong sell rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. The Goldman Sachs Group set a $84.00 target price on MakeMyTrip in a research note on Saturday, June 27th. Finally, HSBC initiated coverage on MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, MakeMyTrip currently has an average rating of “Buy” and an average price target of $86.75.

MakeMyTrip Price Performance

Shares of MMYT opened at $51.64 on Monday. The company has a market capitalization of $5.75 billion, a P/E ratio of 206.56 and a beta of 0.98. MakeMyTrip has a one year low of $32.67 and a one year high of $104.99. The business’s 50 day simple moving average is $49.00 and its 200-day simple moving average is $52.27.

Institutional Inflows and Outflows

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