MakeMyTrip (NASDAQ:MMYT) Stock Rating Upgraded by Zacks Research

MakeMyTrip (NASDAQ:MMYT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. HSBC started coverage on MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective for the company. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, MakeMyTrip has an average rating of “Buy” and an average price target of $86.75.

MakeMyTrip Stock Up 6.1%

Shares of MMYT opened at $56.49 on Monday. The business has a 50-day simple moving average of $48.83 and a two-hundred day simple moving average of $52.48. MakeMyTrip has a 52 week low of $32.67 and a 52 week high of $104.99. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 225.96 and a beta of 0.98.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors have recently bought and sold shares of MMYT. Leonteq Securities AG purchased a new stake in MakeMyTrip in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in shares of MakeMyTrip by 74.3% in the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after buying an additional 422 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after buying an additional 284 shares in the last quarter. Kestra Advisory Services LLC bought a new position in MakeMyTrip during the fourth quarter valued at approximately $46,000. Finally, Stone House Investment Management LLC grew its holdings in MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after buying an additional 200 shares in the last quarter. 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.