Bank of America Increases MakeMyTrip (NASDAQ:MMYT) Price Target to $95.00

MakeMyTrip (NASDAQ:MMYT) had its price objective raised by Bank of America from $88.00 to $95.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Separately, StockNews.com upgraded MakeMyTrip from a sell rating to a hold rating in a report on Friday, May 24th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $66.67.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $86.57 on Monday. The stock has a market capitalization of $9.19 billion, a PE ratio of 51.84, a price-to-earnings-growth ratio of 5.71 and a beta of 1.30. MakeMyTrip has a 52 week low of $28.13 and a 52 week high of $93.29. The stock has a 50 day moving average price of $80.67 and a 200 day moving average price of $66.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The business had revenue of $202.89 million during the quarter, compared to analysts’ expectations of $195.15 million. MakeMyTrip had a net margin of 27.70% and a return on equity of 10.66%. Analysts predict that MakeMyTrip will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MMYT. EverSource Wealth Advisors LLC lifted its holdings in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after buying an additional 332 shares in the last quarter. USA Financial Formulas bought a new stake in MakeMyTrip in the 4th quarter valued at about $50,000. LRI Investments LLC acquired a new position in shares of MakeMyTrip during the 1st quarter worth approximately $149,000. Catalytic Wealth RIA LLC bought a new position in shares of MakeMyTrip during the fourth quarter worth approximately $207,000. Finally, HMS Capital Management LLC acquired a new stake in shares of MakeMyTrip in the first quarter valued at approximately $231,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

About MakeMyTrip

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.