Brokerages Set MakeMyTrip Limited (MMYT) Price Target at $29.95
Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $29.95.
A number of equities analysts have commented on MMYT shares. Zacks Investment Research upgraded shares of MakeMyTrip Limited from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Saturday, July 1st. TheStreet upgraded shares of MakeMyTrip Limited from a “d” rating to a “c-” rating in a research report on Tuesday, July 25th. ValuEngine upgraded shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC downgraded shares of MakeMyTrip Limited from a “buy” rating to a “hold” rating and upped their price objective for the stock from $19.80 to $32.00 in a research report on Thursday, August 10th.
A number of institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. increased its position in shares of MakeMyTrip Limited by 12.7% in the second quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock worth $119,000 after buying an additional 399 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in MakeMyTrip Limited during the first quarter worth $202,000. Credit Suisse AG bought a new position in MakeMyTrip Limited during the first quarter worth $242,000. Airain ltd bought a new position in MakeMyTrip Limited during the second quarter worth $256,000. Finally, California Public Employees Retirement System bought a new position in MakeMyTrip Limited during the second quarter worth $262,000. Institutional investors own 43.27% of the company’s stock.
MakeMyTrip Limited (NASDAQ MMYT) traded up 2.84% during midday trading on Friday, hitting $32.55. The company’s stock had a trading volume of 611,419 shares. The firm’s market cap is $3.17 billion. MakeMyTrip Limited has a 12 month low of $18.87 and a 12 month high of $40.90. The company’s 50 day moving average price is $31.88 and its 200 day moving average price is $33.63.
MakeMyTrip Limited (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by $0.14. The firm had revenue of $141.21 million for the quarter, compared to analysts’ expectations of $110.67 million. MakeMyTrip Limited had a negative return on equity of 16.91% and a negative net margin of 31.64%. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.73) EPS. Analysts expect that MakeMyTrip Limited will post ($2.20) EPS for the current year.
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About MakeMyTrip Limited
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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