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

MakeMyTrip Limited (NASDAQ:MMYT) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $72.25.

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings upgraded shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Zacks Research downgraded shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Bank of America lowered their price objective on shares of MakeMyTrip from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $42.68 on Tuesday. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $86.94. The business’s 50 day simple moving average is $48.73 and its two-hundred day simple moving average is $50.98. The firm has a market cap of $4.01 billion, a P/E ratio of 213.41 and a beta of 1.07.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Monday, October 26th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.04 by $0.43. The firm had revenue of $235.16 million during the quarter, compared to the consensus estimate of $269.09 million. MakeMyTrip had a negative return on equity of 312.82% and a net margin of 3.91%. On average, equities analysts forecast that MakeMyTrip will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of MakeMyTrip by 74.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after acquiring an additional 422 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in MakeMyTrip by 26.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock valued at $95,000 after purchasing an additional 422 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in MakeMyTrip by 416.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock valued at $56,000 after purchasing an additional 546 shares during the last quarter. Signaturefd LLC boosted its stake in MakeMyTrip by 9.0% during the 3rd quarter. Signaturefd LLC now owns 7,309 shares of the technology company’s stock valued at $345,000 after purchasing an additional 602 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in MakeMyTrip by 31.0% during the 1st quarter. SG Americas Securities LLC now owns 12,731 shares of the technology company’s stock worth $475,000 after purchasing an additional 3,016 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

About MakeMyTrip

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.