Bank of America Raises MakeMyTrip (NASDAQ:MMYT) Price Target to $95.00

MakeMyTrip (NASDAQ:MMYTFree Report) had its price target upped by Bank of America from $88.00 to $95.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Separately, StockNews.com raised MakeMyTrip from a sell rating to a hold rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $66.67.

Get Our Latest Analysis on MakeMyTrip

MakeMyTrip Trading Down 1.4 %

NASDAQ:MMYT opened at $89.42 on Monday. MakeMyTrip has a 1 year low of $26.99 and a 1 year high of $93.29. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 5.71 and a beta of 1.30. The business has a fifty day moving average of $80.35 and a 200-day moving average of $66.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

MakeMyTrip (NASDAQ:MMYTGet Free Report) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. MakeMyTrip had a return on equity of 10.66% and a net margin of 27.70%. The company had revenue of $202.89 million during the quarter, compared to analysts’ expectations of $195.15 million. Equities analysts predict that MakeMyTrip will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMYT. The Manufacturers Life Insurance Company boosted its stake in MakeMyTrip by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 467,161 shares of the technology company’s stock valued at $18,929,000 after buying an additional 8,148 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of MakeMyTrip during the third quarter valued at $22,602,000. MayTech Global Investments LLC lifted its holdings in shares of MakeMyTrip by 20.6% during the third quarter. MayTech Global Investments LLC now owns 233,402 shares of the technology company’s stock valued at $9,457,000 after purchasing an additional 39,797 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of MakeMyTrip by 2.6% during the fourth quarter. Harbour Capital Advisors LLC now owns 17,845 shares of the technology company’s stock valued at $824,000 after purchasing an additional 447 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of MakeMyTrip by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,490 shares of the technology company’s stock valued at $963,000 after purchasing an additional 799 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

(Get Free Report)

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.

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