Brokerages Set MakeMyTrip Limited (NASDAQ:MMYT) PT at $106.33

MakeMyTrip Limited (NASDAQ:MMYT) has earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $106.3333.

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

Institutional Investors Weigh In On MakeMyTrip

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MakeMyTrip by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after buying an additional 1,721 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in MakeMyTrip in the second quarter valued at approximately $210,000. Asset Management One Co. Ltd. raised its position in MakeMyTrip by 29.4% during the second quarter. Asset Management One Co. Ltd. now owns 127,598 shares of the technology company’s stock valued at $12,507,000 after purchasing an additional 28,998 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in MakeMyTrip by 4.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 65,764 shares of the technology company’s stock worth $6,446,000 after purchasing an additional 2,528 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in shares of MakeMyTrip in the 2nd quarter valued at $6,371,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Up 0.3%

MMYT stock opened at $56.00 on Thursday. MakeMyTrip has a fifty-two week low of $53.09 and a fifty-two week high of $113.85. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 116.67, a PEG ratio of 1.93 and a beta of 0.64. The business’s fifty day moving average price is $71.48 and its two-hundred day moving average price is $82.60.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $306.29 million. On average, equities analysts anticipate that MakeMyTrip will post 1.27 earnings per share for the current 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.