MakeMyTrip Limited (NASDAQ:MMYT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $106.3333.

Several equities research analysts recently weighed in on the company. Citigroup decreased their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, January 21st. Bank of America reduced their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $56.97 on Thursday. The stock’s 50-day moving average price is $69.76 and its 200 day moving average price is $81.80. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The stock has a market capitalization of $6.34 billion, a PE ratio of 118.69, a price-to-earnings-growth ratio of 1.94 and a beta of 0.64. MakeMyTrip has a 52-week low of $53.09 and a 52-week high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $295.70 million during the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. As a group, equities research analysts forecast that MakeMyTrip will post 1.27 EPS for the current year.

Institutional Trading of MakeMyTrip

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. raised its position in MakeMyTrip by 2,438.5% during the second quarter. Federated Hermes Inc. now owns 152,995 shares of the technology company’s stock worth $14,997,000 after acquiring an additional 146,968 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of MakeMyTrip in the second quarter valued at approximately $30,005,000. Helios Capital Management PTE. Ltd. purchased a new position in shares of MakeMyTrip during the 3rd quarter worth approximately $2,574,000. Seven Grand Managers LLC acquired a new position in shares of MakeMyTrip during the 2nd quarter worth approximately $7,352,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in MakeMyTrip by 181.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,734 shares of the technology company’s stock valued at $69,052,000 after buying an additional 475,248 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

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.