Bank of America Raises MakeMyTrip (NASDAQ:MMYT) Price Target to $100.00

MakeMyTrip (NASDAQ:MMYT) had its target price upped by Bank of America from $95.00 to $100.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price target suggests a potential upside of 11.67% from the company’s previous close.

Separately, StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, MakeMyTrip currently has a consensus rating of “Moderate Buy” and an average price target of $91.67.

MakeMyTrip Price Performance

Shares of MMYT opened at $89.55 on Wednesday. MakeMyTrip has a 52-week low of $28.13 and a 52-week high of $100.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88. The business’s 50 day moving average price is $83.30 and its two-hundred day moving average price is $69.55. The firm has a market cap of $9.83 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 7.66 and a beta of 1.30.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. MakeMyTrip had a return on equity of 11.48% and a net margin of 26.11%. The firm had revenue of $202.89 million for the quarter, compared to analyst estimates of $195.15 million. On average, equities analysts anticipate that MakeMyTrip will post 0.96 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently modified their holdings of MMYT. SG Americas Securities LLC increased its holdings in shares of MakeMyTrip by 478.2% during the fourth quarter. SG Americas Securities LLC now owns 51,682 shares of the technology company’s stock valued at $2,428,000 after acquiring an additional 42,744 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of MakeMyTrip during the fourth quarter valued at approximately $298,000. Raymond James & Associates bought a new stake in MakeMyTrip during the fourth quarter worth $733,000. Blue Trust Inc. grew its holdings in MakeMyTrip by 12.3% during the fourth quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock worth $331,000 after buying an additional 774 shares in the last quarter. Finally, Baillie Gifford & Co. grew 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 in the last quarter. Institutional investors 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.