MakeMyTrip Limited (NASDAQ:MMYT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $96.50.

Several equities research analysts recently issued reports on MMYT shares. The Goldman Sachs Group reiterated a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup restated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Finally, Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th.

MakeMyTrip Trading Up 1.0%

Shares of MakeMyTrip stock opened at $46.57 on Wednesday. The stock has a fifty day simple moving average of $45.39 and a 200 day simple moving average of $56.06. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.99. The company has a market capitalization of $5.18 billion, a P/E ratio of 186.28 and a beta of 1.01. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 38.85.

Hedge Funds Weigh In On MakeMyTrip

A number of large investors have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $29,000. Parallel Advisors LLC boosted its stake in shares of MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of MakeMyTrip during the 4th quarter worth approximately $46,000. Stone House Investment Management LLC grew its stake in MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares during the period. Finally, Rakuten Securities Inc. grew its stake in MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after purchasing an additional 590 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

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.