MakeMyTrip Limited (NASDAQ:MMYT) Receives Average Recommendation of “Moderate Buy” from Brokerages

MakeMyTrip Limited (NASDAQ:MMYT) has been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $101.00.

Several research analysts have recently weighed in on the company. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research report on Tuesday, January 27th. Finally, Citigroup lowered their price objective on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 13th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Leonteq Securities AG bought a new position in shares of MakeMyTrip in the 4th quarter worth about $29,000. Parallel Advisors LLC raised its position 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 acquiring an additional 284 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of MakeMyTrip in the 4th quarter worth about $46,000. Stone House Investment Management LLC raised its position in shares of MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after acquiring an additional 200 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of MakeMyTrip by 893.9% in the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after acquiring an additional 590 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Stock Down 2.8%

Shares of MMYT opened at $46.86 on Tuesday. The company has a market capitalization of $5.21 billion, a PE ratio of 97.63, a PEG ratio of 1.96 and a beta of 1.03. MakeMyTrip has a 12 month low of $32.67 and a 12 month high of $113.85. The stock’s 50-day moving average price is $46.06 and its two-hundred day moving average price is $64.77. 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 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.