MakeMyTrip (NASDAQ:MMYT) Stock Rating Upgraded by Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group set a $84.00 target price on MakeMyTrip in a research note on Saturday, June 27th. Zacks Research upgraded shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. HSBC assumed coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective for the company. Finally, Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $86.75.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $60.42 on Friday. The firm has a 50 day moving average price of $53.64 and a two-hundred day moving average price of $50.18. The stock has a market cap of $5.68 billion, a P/E ratio of 503.50 and a beta of 0.98. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $104.43.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors have recently modified their holdings of the business. Leonteq Securities AG bought a new stake in MakeMyTrip during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 422 shares during the last quarter. Parallel Advisors LLC grew its stake in MakeMyTrip by 244.8% in 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 during the period. Kestra Advisory Services LLC bought a new position in MakeMyTrip in the 4th quarter valued at $46,000. Finally, Rakuten Securities Inc. increased its position in shares of MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after purchasing an additional 590 shares during the last quarter. 51.89% of the stock is owned by 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.