MakeMyTrip Limited (NASDAQ:MMYT) Given Average Recommendation of “Moderate Buy” by Brokerages

MakeMyTrip Limited (NASDAQ:MMYT) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $101.00.

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Thursday, May 7th. Finally, Zacks Research downgraded MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MakeMyTrip by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock worth $1,642,000 after buying an additional 1,721 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of MakeMyTrip by 24.7% during the second quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock worth $336,000 after buying an additional 679 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of MakeMyTrip by 9.2% during the second quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company’s stock worth $1,558,000 after buying an additional 1,345 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of MakeMyTrip by 14.9% during the second quarter. Sei Investments Co. now owns 520,853 shares of the technology company’s stock worth $51,054,000 after buying an additional 67,367 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of MakeMyTrip by 108.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company’s stock worth $19,712,000 after buying an additional 104,641 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Trading Down 2.4%

Shares of MakeMyTrip stock opened at $44.09 on Friday. The business has a fifty day simple moving average of $44.23 and a two-hundred day simple moving average of $58.56. MakeMyTrip has a 1 year low of $32.67 and a 1 year high of $104.99. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 176.36 and a beta of 1.01. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05.

About MakeMyTrip

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.