MakeMyTrip Limited (NASDAQ:MMYT) Stock Has Consensus Target Price of $73.50

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $72.25.

A number of equities analysts have recently issued reports on MMYT shares. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings raised MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 26th. Finally, Bank of America decreased their target price on shares of MakeMyTrip from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th.

Institutional Investors Weigh In On MakeMyTrip

Several institutional investors have recently added to or reduced their stakes in MMYT. Royal Bank of Canada increased its holdings in MakeMyTrip by 53.8% in the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock worth $130,464,000 after buying an additional 1,223,963 shares during the period. Wasatch Advisors LP boosted its holdings in shares of MakeMyTrip by 5.7% in the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after acquiring an additional 133,723 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in MakeMyTrip during the first quarter valued at $63,447,000. Coronation Fund Managers Ltd. lifted its position in MakeMyTrip by 22.5% during the first quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock valued at $57,136,000 after purchasing an additional 280,923 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in MakeMyTrip by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,365,505 shares of the technology company’s stock valued at $51,725,000 after purchasing an additional 413,087 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

MMYT stock opened at $45.60 on Tuesday. The business has a 50-day moving average price of $48.43 and a 200 day moving average price of $50.82. The company has a market capitalization of $4.29 billion, a P/E ratio of 27.72 and a beta of 1.07. MakeMyTrip has a 1-year low of $32.67 and a 1-year high of $86.94.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Monday, October 26th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.43. The company had revenue of $235.16 million for the quarter, compared to analysts’ expectations of $269.09 million. MakeMyTrip had a net margin of 3.91% and a negative return on equity of 312.82%. On average, analysts anticipate that MakeMyTrip will post 1.54 earnings per share for the current fiscal year.

About MakeMyTrip

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.