MakeMyTrip Limited (NASDAQ:MMYT) Given Consensus Recommendation of “Hold” by Brokerages
Shares of MakeMyTrip Limited (NASDAQ:MMYT) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $26.95.
Several equities research analysts have recently commented on the company. ValuEngine downgraded MakeMyTrip from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Zacks Investment Research lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, BidaskClub lowered MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Friday, March 15th.
Shares of MMYT traded up $0.02 during mid-day trading on Friday, hitting $25.50. The company’s stock had a trading volume of 6,145 shares, compared to its average volume of 307,753. The stock has a market capitalization of $2.58 billion, a P/E ratio of -15.83 and a beta of 0.43. MakeMyTrip has a fifty-two week low of $19.66 and a fifty-two week high of $41.70.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. raised its holdings in MakeMyTrip by 1.2% in the 1st quarter. Baillie Gifford & Co. now owns 3,260,419 shares of the technology company’s stock valued at $89,988,000 after acquiring an additional 37,600 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of MakeMyTrip by 30.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,167,590 shares of the technology company’s stock valued at $77,067,000 after buying an additional 746,010 shares during the last quarter. FIL Ltd boosted its holdings in shares of MakeMyTrip by 98.9% in the 1st quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock valued at $71,754,000 after buying an additional 1,292,622 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of MakeMyTrip by 4.3% in the 1st quarter. Wasatch Advisors Inc. now owns 2,086,648 shares of the technology company’s stock valued at $57,591,000 after buying an additional 86,493 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of MakeMyTrip by 39.7% in the 4th quarter. Brown Advisory Inc. now owns 2,008,442 shares of the technology company’s stock valued at $48,865,000 after buying an additional 571,115 shares during the last quarter. Institutional investors and hedge funds own 44.72% of the company’s stock.
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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