MakeMyTrip (NASDAQ:MMYT) Shares Gap Up – Should You Buy?

MakeMyTrip Limited (NASDAQ:MMYT) shares gapped up before the market opened on Monday . The stock had previously closed at $56.95, but opened at $62.78. MakeMyTrip shares last traded at $64.1680, with a volume of 172,972 shares changing hands.

Key Headlines Impacting MakeMyTrip

Here are the key news stories impacting MakeMyTrip this week:

• Positive Sentiment: MakeMyTrip reported adjusted earnings per share of $0.53, well above analyst expectations. The earnings beat is the primary catalyst for the stock’s advance and suggests improved operating leverage in the company’s travel-platform business. MakeMyTrip Ltd Q1 2027 Earnings
• Positive Sentiment: The company’s reported net margin was 4.96%, while return on equity was exceptionally high, reinforcing the market’s favorable reaction to the earnings release. MakeMyTrip Earnings Report
• Positive Sentiment: The results and investor response indicate that profitability is currently outweighing concerns about the company’s elevated valuation, with the stock trading well above its 50-day and 200-day moving averages. Why MakeMyTrip Stock Is Up

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HSBC initiated coverage on MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price on the stock. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research note on Saturday, June 27th. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $86.75.

MakeMyTrip Stock Up 2.3%

The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 252.88 and a beta of 0.98. The stock’s 50 day moving average price is $51.28 and its two-hundred day moving average price is $50.68.

Institutional Investors Weigh In On MakeMyTrip

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of MakeMyTrip in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its position in MakeMyTrip by 74.3% in the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after purchasing an additional 422 shares during the period. Parallel Advisors LLC boosted its stake in MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after buying an additional 284 shares during the period. Kestra Advisory Services LLC acquired a new stake in MakeMyTrip in the 4th quarter valued at approximately $46,000. Finally, Stone House Investment Management LLC grew its stake in shares of MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.