Analysts Set MakeMyTrip Limited (NASDAQ:MMYT) PT at $86.75

MakeMyTrip Limited (NASDAQ:MMYT) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $86.75.

Several research firms recently issued reports on MMYT. Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 20th. The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a report on Saturday, June 27th. Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Finally, HSBC started coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price target on the stock.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock opened at $49.23 on Friday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 196.92 and a beta of 0.98. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $104.43. The company’s 50 day moving average price is $49.24 and its 200-day moving average price is $52.02.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of MakeMyTrip by 780.3% during the fourth 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 position in MakeMyTrip in the fourth quarter worth $150,069,000. Temasek Holdings Private Ltd bought a new position in MakeMyTrip in the first quarter worth $63,447,000. Norges Bank purchased a new position in MakeMyTrip during the fourth quarter valued at $90,284,000. Finally, Wasatch Advisors LP lifted its position in MakeMyTrip by 64.2% during the first quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock valued at $87,249,000 after buying an additional 914,402 shares during the period. Institutional investors own 51.89% of the company’s stock.

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.