Brokerages Set MakeMyTrip Limited (MMYT) Price Target at $31.96
Shares of MakeMyTrip Limited (NASDAQ:MMYT) have received an average recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.96.
Several research analysts recently weighed in on MMYT shares. ValuEngine upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Goldman Sachs Group raised shares of MakeMyTrip from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $40.00 to $33.00 in a research note on Friday, October 26th. BidaskClub cut shares of MakeMyTrip from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 21st. TheStreet cut shares of MakeMyTrip from a “c-” rating to a “d+” rating in a research note on Tuesday, October 9th. Finally, Nomura raised shares of MakeMyTrip from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, November 27th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in MakeMyTrip during the 3rd quarter valued at about $916,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of MakeMyTrip in the 3rd quarter valued at approximately $21,634,000. Morgan Stanley grew its stake in shares of MakeMyTrip by 21.2% in the 3rd quarter. Morgan Stanley now owns 893,821 shares of the technology company’s stock valued at $24,535,000 after buying an additional 156,059 shares during the period. Man Group plc grew its stake in shares of MakeMyTrip by 680.0% in the 3rd quarter. Man Group plc now owns 81,320 shares of the technology company’s stock valued at $2,232,000 after buying an additional 70,895 shares during the period. Finally, Trilogy Global Advisors LP grew its stake in shares of MakeMyTrip by 4.8% in the 3rd quarter. Trilogy Global Advisors LP now owns 306,500 shares of the technology company’s stock valued at $8,413,000 after buying an additional 13,911 shares during the period. 44.30% of the stock is owned by institutional investors.
MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Thursday, October 25th. The technology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). MakeMyTrip had a negative return on equity of 11.27% and a negative net margin of 32.59%. The company had revenue of $160.10 million for the quarter. As a group, sell-side analysts expect that MakeMyTrip will post -1.45 earnings per share for the current year.
MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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