Analysts Set MakeMyTrip Limited (NASDAQ:MMYT) Price Target at $101.00

MakeMyTrip Limited (NASDAQ:MMYT) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $101.00.

A number of equities analysts have recently commented on the company. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings restated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. The Goldman Sachs Group restated a “buy” rating on shares of MakeMyTrip in a research note on Thursday. Finally, Citigroup lowered their price target on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its stake in MakeMyTrip by 13.8% during the fourth quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after acquiring an additional 869,728 shares during the period. Baillie Gifford & Co. increased its stake in MakeMyTrip by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock valued at $423,332,000 after acquiring an additional 114,975 shares during the period. Price T Rowe Associates Inc. MD increased its stake in MakeMyTrip by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock valued at $201,064,000 after acquiring an additional 371,066 shares during the period. Wasatch Advisors LP increased its stake 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 acquiring an additional 914,402 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in MakeMyTrip by 1.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after acquiring an additional 40,712 shares during the period. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Trading Down 5.3%

MakeMyTrip stock opened at $47.84 on Tuesday. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The business’s 50-day simple moving average is $45.65 and its 200-day simple moving average is $63.92. The firm has a market capitalization of $5.32 billion, a PE ratio of 99.67, a PEG ratio of 1.94 and a beta of 1.03. MakeMyTrip has a 52 week low of $32.67 and a 52 week high of $110.59.

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.