MakeMyTrip Limited (NASDAQ:MMYT) Given Consensus Recommendation of “Moderate Buy” by Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $114.3333.

MMYT has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday. Bank of America cut their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Finally, Weiss Ratings started coverage on shares of MakeMyTrip in a research note on Thursday, October 30th. They issued a “hold (c)” rating for the company.

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP boosted its position 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 buying an additional 41,999 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of MakeMyTrip during the third quarter worth $231,000. Advisory Services Network LLC bought a new stake in MakeMyTrip during the third quarter worth $124,000. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of MakeMyTrip during the third quarter worth $281,000. Finally, XTX Topco Ltd acquired a new stake in MakeMyTrip in the third quarter valued at about $1,313,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Stock Down 0.6%

NASDAQ:MMYT traded down $0.49 during midday trading on Wednesday, reaching $81.72. 183,886 shares of the stock traded hands, compared to its average volume of 1,035,966. The business has a 50-day moving average of $78.83 and a two-hundred day moving average of $90.07. The stock has a market capitalization of $9.09 billion, a PE ratio of 127.69 and a beta of 0.71. MakeMyTrip has a 12-month low of $69.69 and a 12-month high of $122.35. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.91 and a current ratio of 1.91.

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.