Brokerages Set MakeMyTrip Limited (NASDAQ:MMYT) Target Price at $96.50

MakeMyTrip Limited (NASDAQ:MMYT) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $92.3333.

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a report on Saturday. Finally, Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in MakeMyTrip during the fourth quarter worth about $29,000. Parallel Advisors LLC increased its position in MakeMyTrip by 244.8% during the third 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 acquired a new stake in MakeMyTrip during the fourth quarter worth about $46,000. Stone House Investment Management LLC increased its position in MakeMyTrip by 50.0% during the fourth 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 during the last quarter. Finally, Rakuten Securities Inc. increased its position in MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after purchasing an additional 590 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Price Performance

MakeMyTrip stock opened at $53.31 on Wednesday. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $104.99. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 213.26 and a beta of 1.01. The company has a fifty day simple moving average of $46.01 and a 200-day simple moving average of $55.34. The company has a quick ratio of 3.05, a current ratio of 3.05 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.