MakeMyTrip (NASDAQ:MMYT) Share Price Crosses Above 200-Day Moving Average of $51.40

Shares of MakeMyTrip Limited (NASDAQ:MMYT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.40 and traded as high as $63.54. MakeMyTrip shares last traded at $61.22, with a volume of 821,738 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Macquarie cut shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $60.00 in a research report on Wednesday, February 21st.

MakeMyTrip Price Performance

The company has a market cap of $6.46 billion, a PE ratio of 132.39 and a beta of 1.23. The business’s 50 day moving average price is $64.15 and its 200-day moving average price is $51.54. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The company had revenue of $214.22 million for the quarter, compared to analyst estimates of $210.01 million. MakeMyTrip had a net margin of 6.93% and a return on equity of 10.13%. As a group, analysts forecast that MakeMyTrip Limited will post 0.84 earnings per share for the current year.

Institutional Trading of MakeMyTrip

A number of hedge funds have recently made changes to their positions in MMYT. Sei Investments Co. raised its stake in shares of MakeMyTrip by 10.0% during the first quarter. Sei Investments Co. now owns 14,511 shares of the technology company’s stock valued at $402,000 after purchasing an additional 1,325 shares during the period. Allianz Asset Management GmbH increased its stake in shares of MakeMyTrip by 1.8% in the first quarter. Allianz Asset Management GmbH now owns 192,077 shares of the technology company’s stock worth $5,153,000 after buying an additional 3,454 shares during the last quarter. Northern Trust Corp bought a new stake in shares of MakeMyTrip in the first quarter worth $624,000. Renaissance Technologies LLC bought a new stake in shares of MakeMyTrip in the first quarter worth $360,000. Finally, UBS Group AG increased its stake in shares of MakeMyTrip by 709.2% in the first quarter. UBS Group AG now owns 71,754 shares of the technology company’s stock worth $1,926,000 after buying an additional 62,887 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Company Profile

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.