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

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five 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 $86.75.

Several equities research analysts have weighed in on MMYT shares. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a report on Saturday, June 27th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. HSBC initiated coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price on the stock. Finally, Zacks Research cut shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th.

Hedge Funds Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in shares of MakeMyTrip in the second quarter worth $1,704,000. Flossbach Von Storch SE purchased a new position in shares of MakeMyTrip in the 2nd quarter valued at about $2,664,000. Wasatch Advisors LP increased its position in shares of MakeMyTrip by 5.7% in the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after buying an additional 133,723 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of MakeMyTrip during the 2nd quarter worth approximately $249,000. Finally, Carmignac Gestion raised its stake in shares of MakeMyTrip by 38.4% during the 1st quarter. Carmignac Gestion now owns 30,428 shares of the technology company’s stock worth $1,135,000 after buying an additional 8,435 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

MakeMyTrip stock opened at $55.62 on Monday. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 463.50 and a beta of 1.00. MakeMyTrip has a 1-year low of $32.67 and a 1-year high of $103.24. The business has a fifty day moving average price of $57.58 and a 200-day moving average price of $50.15.

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.