MakeMyTrip Limited (NASDAQ:MMYT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $86.75.

Several analysts recently weighed in on the company. HSBC assumed coverage on MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Zacks Research cut MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a report on Saturday, June 27th.

MakeMyTrip Price Performance

MMYT stock opened at $54.62 on Friday. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 218.48 and a beta of 0.98. The company has a 50-day moving average of $48.46 and a two-hundred day moving average of $53.07. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $104.99.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently made changes to their positions in the stock. GeoWealth Management LLC raised its holdings in MakeMyTrip by 4.6% in the 3rd quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock valued at $361,000 after acquiring an additional 169 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after purchasing an additional 188 shares in the last quarter. Stone House Investment Management LLC grew its holdings in shares of MakeMyTrip by 50.0% during the 4th 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 in the last quarter. SBI Securities Co. Ltd. increased its position in shares of MakeMyTrip by 33.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock valued at $90,000 after purchasing an additional 278 shares during the period. Finally, Parallel Advisors LLC increased its position 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 purchasing an additional 284 shares during the period. Institutional investors 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.