Analysts Set MakeMyTrip Limited (NASDAQ:MMYT) Target Price at $106.33

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $106.3333.

A number of analysts recently weighed in on MMYT shares. 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 report on Wednesday, December 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Citigroup cut their price objective on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Finally, Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st.

Hedge Funds Weigh In On MakeMyTrip

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

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $39.78 on Monday. MakeMyTrip has a twelve month low of $39.42 and a twelve month high of $113.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 82.88, a PEG ratio of 1.37 and a beta of 0.64. The firm has a 50-day moving average of $58.04 and a two-hundred day moving average of $75.63.

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

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.