MakeMyTrip (NASDAQ:MMYT – Get Free Report) had its price objective boosted by Citigroup from $93.00 to $115.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 25.42% from the stock’s current price.
MMYT has been the topic of several other reports. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday. Bank of America raised their target price on shares of MakeMyTrip from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.67.
Read Our Latest Stock Analysis on MMYT
MakeMyTrip Trading Down 5.4 %
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $195.15 million. Research analysts forecast that MakeMyTrip will post 0.96 EPS for the current year.
Institutional Trading of MakeMyTrip
A number of hedge funds have recently made changes to their positions in MMYT. Artisan Partners Limited Partnership grew its position in shares of 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 in the last quarter. Schroder Investment Management Group grew its position in shares of 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 in the last quarter. William Blair Investment Management LLC acquired a new position in MakeMyTrip in the first quarter worth $50,543,000. Aubrey Capital Management Ltd acquired a new position in MakeMyTrip in the fourth quarter worth $14,968,000. Finally, Janus Henderson Group PLC boosted its holdings in MakeMyTrip by 143.2% in the first quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock worth $32,574,000 after purchasing an additional 269,988 shares during the period. 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.
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