MakeMyTrip Limited (NASDAQ:MMYT) Given Average Recommendation of “Moderate Buy” by Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $106.3333.

Several brokerages have commented on MMYT. Bank of America lowered their price objective on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Citigroup decreased their target price on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its position in shares of MakeMyTrip by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after buying an additional 869,728 shares during the period. Baillie Gifford & Co. lifted its position in MakeMyTrip by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after acquiring an additional 114,975 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in MakeMyTrip by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after acquiring an additional 371,066 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake 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 worth $190,699,000 after acquiring an additional 40,712 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings 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 worth $186,797,000 after purchasing an additional 2,016,281 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Down 6.9%

Shares of NASDAQ MMYT opened at $39.78 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. MakeMyTrip has a 12 month low of $39.42 and a 12 month high of $113.85. The firm has a market capitalization of $4.43 billion, a PE ratio of 82.88, a price-to-earnings-growth ratio of 1.47 and a beta of 0.64. The firm has a fifty day simple moving average of $58.04 and a two-hundred day simple moving average of $75.94.

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

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.