MakeMyTrip (NASDAQ:MMYT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note published on Saturday morning.

MMYT has been the subject of several other reports. Citigroup decreased their price target on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. Morgan Stanley reiterated an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Bank of America decreased their price target on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, MakeMyTrip currently has an average rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Stock Up 2.3%

Shares of NASDAQ MMYT opened at $40.74 on Friday. 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 has a 12 month low of $32.67 and a 12 month high of $113.85. The firm has a market capitalization of $4.53 billion, a PE ratio of 84.88, a price-to-earnings-growth ratio of 1.53 and a beta of 0.83. The firm has a fifty day simple moving average of $50.81 and a two-hundred day simple moving average of $71.02.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The business had revenue of $295.70 million during the quarter, compared to analyst estimates of $306.29 million. Equities analysts expect that MakeMyTrip will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in MakeMyTrip by 780.3% during the 4th quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after purchasing an additional 2,016,281 shares in the last quarter. Capital Research Global Investors bought a new stake in MakeMyTrip during the 4th quarter valued at about $150,069,000. Norges Bank bought a new stake in MakeMyTrip during the 4th quarter valued at about $90,284,000. Schroder Investment Management Group increased its stake in MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after purchasing an additional 869,728 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in MakeMyTrip by 112.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,563,877 shares of the technology company’s stock valued at $128,426,000 after purchasing an additional 826,143 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.