MakeMyTrip (NASDAQ:MMYT) Stock Rating Upgraded by Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on MMYT. Zacks Research lowered MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. HSBC started coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 price objective on the stock. Bank of America decreased their target price on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating for the company in a report on Monday, September 28th. Finally, The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a research note on Saturday, June 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, MakeMyTrip currently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $42.09 on Friday. The company has a market capitalization of $3.96 billion, a P/E ratio of 31.93 and a beta of 1.07. MakeMyTrip has a 1 year low of $32.67 and a 1 year high of $92.09. The company has a 50 day simple moving average of $50.45 and a 200-day simple moving average of $49.99.

Institutional Trading of MakeMyTrip

Several institutional investors have recently added to or reduced their stakes in MMYT. Rockefeller Capital Management L.P. increased its holdings in shares of MakeMyTrip by 416.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after buying an additional 546 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in MakeMyTrip by 74.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after purchasing an additional 422 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of MakeMyTrip by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock worth $95,000 after acquiring an additional 422 shares during the last quarter. Confluence Investment Management LLC purchased a new position in MakeMyTrip during the 2nd quarter worth $249,000. Finally, Signaturefd LLC boosted its holdings in MakeMyTrip by 9.0% during the third quarter. Signaturefd LLC now owns 7,309 shares of the technology company’s stock worth $345,000 after purchasing an additional 602 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.