MakeMyTrip (NASDAQ:MMYT) Shares Gap Up – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT) shares gapped up before the market opened on Monday . The stock had previously closed at $56.95, but opened at $62.78. MakeMyTrip shares last traded at $64.1680, with a volume of 172,972 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MMYT. Zacks Research upgraded MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. HSBC assumed coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price for the company. Finally, The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research note on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $86.75.

MakeMyTrip Trading Up 9.3%

The firm has a 50-day moving average of $50.48 and a two-hundred day moving average of $50.89. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 249.62 and a beta of 0.98.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.38. MakeMyTrip had a net margin of 4.96% and a return on equity of 2,304.78%. The company had revenue of $285.58 million for the quarter, compared to analyst estimates of $292.14 million. As a group, equities analysts anticipate that MakeMyTrip Limited will post 1.54 EPS for the current year.

Institutional Trading of MakeMyTrip

A number of large investors have recently bought and sold shares of MMYT. Leonteq Securities AG acquired a new position in MakeMyTrip during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of MakeMyTrip by 74.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after purchasing an additional 422 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after purchasing an additional 284 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of MakeMyTrip in the 4th quarter worth about $46,000. Finally, Stone House Investment Management LLC increased its position in shares of MakeMyTrip by 50.0% during the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

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.