MakeMyTrip Limited (NASDAQ:MMYT) Given Consensus Rating of “Buy” by Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $86.75.

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

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $59.70 on Thursday. The firm’s fifty day moving average price is $54.00 and its 200-day moving average price is $50.16. The stock has a market cap of $5.62 billion, a P/E ratio of 497.50 and a beta of 0.98. MakeMyTrip has a fifty-two week low of $32.67 and a fifty-two week high of $104.43.

Institutional Investors Weigh In On MakeMyTrip

Several institutional investors have recently bought and sold shares of the stock. GeoWealth Management LLC grew its holdings in shares of MakeMyTrip by 4.6% in the third quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock worth $361,000 after purchasing an additional 169 shares during the last quarter. Osaic Holdings Inc. boosted its position in MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after buying an additional 188 shares during the period. SBI Securities Co. Ltd. boosted its position in MakeMyTrip by 33.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock valued at $90,000 after buying an additional 278 shares during the period. Parallel Advisors LLC grew its holdings in MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after acquiring an additional 284 shares during the last quarter. Finally, FACT Capital LP grew its holdings in MakeMyTrip by 0.4% in the 4th quarter. FACT Capital LP now owns 69,641 shares of the technology company’s stock worth $5,719,000 after acquiring an additional 292 shares during the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

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.