MakeMyTrip (NASDAQ:MMYT) Trading Up 15.4% – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) shares rose 15.4% during mid-day trading on Wednesday . The company traded as high as $44.62 and last traded at $44.1480. Approximately 727,069 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,880,372 shares. The stock had previously closed at $38.27.

Wall Street Analysts Forecast Growth

MMYT has been the subject of a number of analyst reports. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley reissued an “overweight” rating on shares of MakeMyTrip in a report on Wednesday, December 31st. Bank of America dropped 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. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a report on Tuesday, January 27th. Finally, Citigroup dropped their price objective on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.33.

MakeMyTrip Price Performance

The stock’s 50-day simple moving average is $50.32 and its 200 day simple moving average is $70.57. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 38.85. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 90.19, a PEG ratio of 1.53 and a beta of 0.83.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS 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 company had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. On average, equities research analysts anticipate that MakeMyTrip Limited will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Leonteq Securities AG acquired a new position in MakeMyTrip in the fourth quarter valued at about $29,000. Parallel Advisors LLC lifted its position in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after buying an additional 284 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in MakeMyTrip in the fourth quarter valued at about $46,000. Stone House Investment Management LLC lifted its position in MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock valued at $49,000 after buying an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in MakeMyTrip by 893.9% in the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after buying an additional 590 shares during the last quarter. Institutional investors and hedge funds 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.