MakeMyTrip Limited (NASDAQ:MMYT) Receives $106.33 Consensus Target Price from Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $106.3333.

A number of equities research analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Bank of America cut their price target on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Citigroup lowered their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th.

MakeMyTrip Price Performance

MakeMyTrip stock opened at $55.29 on Thursday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 115.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64. The firm has a 50-day moving average of $70.89 and a two-hundred day moving average of $82.25. MakeMyTrip has a 1 year low of $53.09 and a 1 year high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $295.70 million for the quarter, compared to analyst estimates of $306.29 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. On average, research analysts forecast that MakeMyTrip will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On MakeMyTrip

Large investors have recently bought and sold shares of the business. Schroder Investment Management Group boosted its position in MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after acquiring an additional 869,728 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of MakeMyTrip by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after purchasing an additional 114,975 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MakeMyTrip by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after purchasing an additional 371,066 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in MakeMyTrip by 1.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after purchasing an additional 40,712 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in MakeMyTrip by 780.3% in the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after purchasing an additional 2,016,281 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.