MakeMyTrip Limited (NASDAQ:MMYT) Receives $101.00 Average Price Target from Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $101.00.

Several research firms have recently commented on MMYT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Citigroup reduced their price target on shares of MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 13th.

Institutional Trading of MakeMyTrip

Several institutional investors have recently added to or reduced their stakes in MMYT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MakeMyTrip by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock valued at $1,642,000 after purchasing an additional 1,721 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in MakeMyTrip by 24.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock valued at $336,000 after purchasing an additional 679 shares during the last quarter. Nebula Research & Development LLC increased its holdings in MakeMyTrip by 9.2% in the 2nd quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company’s stock valued at $1,558,000 after purchasing an additional 1,345 shares during the last quarter. Sei Investments Co. increased its holdings in MakeMyTrip by 14.9% in the 2nd quarter. Sei Investments Co. now owns 520,853 shares of the technology company’s stock valued at $51,054,000 after purchasing an additional 67,367 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in MakeMyTrip by 108.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company’s stock valued at $19,712,000 after purchasing an additional 104,641 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Stock Down 3.2%

MMYT stock opened at $46.29 on Tuesday. The firm has a market cap of $5.15 billion, a PE ratio of 96.44, a PEG ratio of 1.94 and a beta of 1.03. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The firm’s 50 day moving average price is $45.23 and its 200-day moving average price is $63.31. MakeMyTrip has a one year low of $32.67 and a one year high of $110.59.

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.