MakeMyTrip (NASDAQ:MMYT) Sets New 1-Year High Following Analyst Upgrade

MakeMyTrip Limited (NASDAQ:MMYTGet Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $88.00 to $95.00. Bank of America currently has a buy rating on the stock. MakeMyTrip traded as high as $90.19 and last traded at $89.78, with a volume of 252213 shares changing hands. The stock had previously closed at $86.66.

Separately, StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.67.

View Our Latest Stock Report on MakeMyTrip

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently added to or reduced their stakes in MMYT. FIL Ltd lifted its position in shares of MakeMyTrip by 1.2% during the 4th quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after acquiring an additional 74,951 shares during the period. Artisan Partners Limited Partnership raised its holdings in MakeMyTrip by 64.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock worth $162,325,000 after buying an additional 1,357,884 shares during the last quarter. Schroder Investment Management Group raised its holdings in MakeMyTrip by 39.2% during the fourth quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock worth $122,520,000 after buying an additional 734,336 shares during the last quarter. Baillie Gifford & Co. raised its holdings in MakeMyTrip by 0.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,284,324 shares of the technology company’s stock worth $107,318,000 after buying an additional 10,099 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in MakeMyTrip during the first quarter worth $50,543,000. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The company’s fifty day simple moving average is $80.35 and its two-hundred day simple moving average is $66.42. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 53.54, a P/E/G ratio of 5.71 and a beta of 1.30.

MakeMyTrip (NASDAQ:MMYTGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $202.89 million for the quarter, compared to the consensus estimate of $195.15 million. MakeMyTrip had a net margin of 27.70% and a return on equity of 10.66%. On average, analysts forecast that MakeMyTrip Limited will post 1.31 earnings per share for the current year.

MakeMyTrip Company Profile

(Get Free Report)

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.

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