MakeMyTrip Limited (NASDAQ:MMYT) Receives $86.75 Consensus Price Target from Analysts

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $86.75.

A number of research firms have commented on MMYT. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research note on Saturday, June 27th. HSBC assumed coverage on MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $56.49 on Friday. The stock has a market capitalization of $6.29 billion, a P/E ratio of 225.96 and a beta of 0.98. The company has a 50 day moving average price of $48.83 and a 200 day moving average price of $52.48. MakeMyTrip has a fifty-two week low of $32.67 and a fifty-two week high of $104.99.

Institutional Trading of MakeMyTrip

Several hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its holdings in MakeMyTrip by 112.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock worth $128,426,000 after buying an additional 826,143 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in MakeMyTrip by 140.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 952,418 shares of the technology company’s stock valued at $77,994,000 after buying an additional 555,620 shares during the period. Hudson Bay Capital Management LP grew its stake in shares of MakeMyTrip by 107.7% in the third quarter. Hudson Bay Capital Management LP now owns 80,999 shares of the technology company’s stock worth $7,582,000 after acquiring an additional 41,999 shares in the last quarter. Aberdeen Group plc grew its stake in shares of MakeMyTrip by 21.0% in the fourth quarter. Aberdeen Group plc now owns 260,177 shares of the technology company’s stock worth $21,366,000 after acquiring an additional 45,100 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of MakeMyTrip by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after acquiring an additional 114,975 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.