MakeMyTrip (NASDAQ:MMYT) Share Price Crosses Above Two Hundred Day Moving Average of $64.78

MakeMyTrip Limited (NASDAQ:MMYT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $64.78 and traded as high as $87.76. MakeMyTrip shares last traded at $86.28, with a volume of 659,571 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Friday, May 24th.

MakeMyTrip Stock Performance

The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 5.69 and a beta of 1.30. 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 firm has a 50-day simple moving average of $78.25 and a two-hundred day simple moving average of $64.94.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. MakeMyTrip had a net margin of 27.70% and a return on equity of 10.66%. The company had revenue of $202.89 million during the quarter, compared to analysts’ expectations of $195.15 million. On average, sell-side analysts anticipate that MakeMyTrip Limited will post 1.31 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Large investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its holdings in MakeMyTrip by 64.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock worth $162,325,000 after acquiring an additional 1,357,884 shares in the last quarter. Schroder Investment Management Group raised its stake in MakeMyTrip by 39.2% in the fourth quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock valued at $122,520,000 after buying an additional 734,336 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in MakeMyTrip in the first quarter valued at $50,543,000. American Century Companies Inc. purchased a new stake in MakeMyTrip during the 3rd quarter worth about $22,602,000. Finally, Aubrey Capital Management Ltd acquired a new position in shares of MakeMyTrip during the 4th quarter worth about $14,968,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

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.