MakeMyTrip Limited (MMYT) Given Consensus Rating of “Buy” by Analysts
MakeMyTrip Limited (NASDAQ:MMYT) has been assigned an average rating of “Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.56.
A number of research analysts have recently commented on the company. BidaskClub downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Zacks Investment Research downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Saturday, December 29th. Finally, ValuEngine downgraded MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Monday, February 4th.
MMYT stock traded up $0.02 during mid-day trading on Thursday, reaching $25.97. The company had a trading volume of 10,276 shares, compared to its average volume of 246,897. The firm has a market capitalization of $2.65 billion, a P/E ratio of -11.83 and a beta of 0.49. MakeMyTrip has a fifty-two week low of $19.66 and a fifty-two week high of $41.70.
Hedge funds have recently modified their holdings of the stock. Thornburg Investment Management Inc. acquired a new position in MakeMyTrip during the fourth quarter worth $112,000. BlackRock Inc. increased its position in MakeMyTrip by 20.5% during the fourth quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock worth $121,000 after buying an additional 847 shares in the last quarter. Pendal Group Ltd increased its position in MakeMyTrip by 4,612.7% during the fourth quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock worth $154,000 after buying an additional 6,181 shares in the last quarter. Bellecapital International Ltd. purchased a new position in MakeMyTrip during the first quarter worth $313,000. Finally, Harbour Capital Advisors LLC purchased a new position in MakeMyTrip during the fourth quarter worth $400,000. 45.71% of the stock is owned by hedge funds and other institutional investors.
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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