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

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $73.50.

Several research firms have recently weighed in on MMYT. Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. HSBC began coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Bank of America cut their price target on shares of MakeMyTrip from $71.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Zacks Research cut shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of MakeMyTrip in a research note on Saturday, June 27th.

MakeMyTrip Price Performance

Shares of MMYT opened at $44.62 on Friday. The firm has a market cap of $4.20 billion, a PE ratio of 371.83 and a beta of 1.07. The company’s fifty day moving average is $54.83 and its two-hundred day moving average is $49.57. MakeMyTrip has a fifty-two week low of $32.67 and a fifty-two week high of $96.60.

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 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 valued at $130,464,000 after purchasing an additional 1,223,963 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of MakeMyTrip by 5.7% during the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock worth $131,811,000 after purchasing an additional 133,723 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of MakeMyTrip by 1.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock worth $190,699,000 after buying an additional 40,712 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of MakeMyTrip by 11.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,935,142 shares of the technology company’s stock worth $158,914,000 after buying an additional 199,699 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of MakeMyTrip in the fourth quarter valued at about $150,069,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited is an online travel company that operates consumer travel platforms in India and other markets. Founded in 2000 by Deep Kalra, the company provides digital tools for researching, planning and booking travel through its websites and mobile applications.

Its services include airline and rail ticketing, hotel and accommodation reservations, holiday packages, bus tickets, car rentals and airport transfers. MakeMyTrip also offers travel-related services such as activities, travel insurance and other ancillary products, depending on the market and booking channel.

The company operates the MakeMyTrip and Goibibo brands, as well as the redBus intercity bus-ticketing platform.