StockNews.com upgraded shares of MakeMyTrip (NASDAQ:MMYT – Free Report) from a sell rating to a hold rating in a research note released on Wednesday.
Separately, Bank of America upped their price target on shares of MakeMyTrip from $88.00 to $95.00 and gave the company a buy rating in a report on Monday, July 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, MakeMyTrip presently has an average rating of Moderate Buy and a consensus price target of $91.67.
View Our Latest Stock Analysis on MMYT
MakeMyTrip Trading Up 3.0 %
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last posted its earnings results on Wednesday, May 15th. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $202.89 million for the quarter, compared to the consensus estimate of $195.15 million. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. On average, analysts forecast that MakeMyTrip will post 0.96 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in MMYT. Bank of New York Mellon Corp boosted its holdings in shares of MakeMyTrip by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock worth $2,583,000 after acquiring an additional 324 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in shares of MakeMyTrip by 9.4% in the 2nd quarter. Calamos Wealth Management LLC now owns 48,983 shares of the technology company’s stock worth $4,119,000 after acquiring an additional 4,193 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after acquiring an additional 1,879,726 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of MakeMyTrip in the 2nd quarter worth approximately $1,168,000. Finally, Banque Pictet & Cie SA acquired a new position in shares of MakeMyTrip in the 2nd quarter worth approximately $1,958,000. 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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