MakeMyTrip (NASDAQ:MMYT) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of MakeMyTrip Limited (NASDAQ:MMYT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $98.23 and traded as high as $117.06. MakeMyTrip shares last traded at $114.17, with a volume of 173,066 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America upped their price objective on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

MakeMyTrip Stock Up 1.8 %

The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $109.34 and a two-hundred day moving average price of $98.46. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 63.50, a P/E/G ratio of 6.59 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The firm had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, sell-side analysts expect that MakeMyTrip Limited will post 1.29 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Institutional investors have recently modified their holdings of the business. Natixis Advisors LLC acquired a new position in shares of MakeMyTrip during the third quarter worth $1,219,000. Citigroup Inc. boosted its position in shares of MakeMyTrip by 154.3% during the third quarter. Citigroup Inc. now owns 60,123 shares of the technology company’s stock valued at $5,588,000 after buying an additional 36,476 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of MakeMyTrip in the third quarter valued at approximately $674,000. B. Riley Wealth Advisors Inc. bought a new position in shares of MakeMyTrip during the 3rd quarter valued at approximately $1,134,000. Finally, 1832 Asset Management L.P. bought a new position in MakeMyTrip during the second quarter valued at $879,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.