MakeMyTrip (NASDAQ:MMYT) Sets New 1-Year High Following Analyst Upgrade

Shares of MakeMyTrip Limited (NASDAQ:MMYT) reached a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $88.00 to $95.00. Bank of America currently has a buy rating on the stock. MakeMyTrip traded as high as $90.19 and last traded at $89.78, with a volume of 252213 shares. The stock had previously closed at $86.66.

Separately, StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Hedge Funds Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FIL Ltd boosted its position in MakeMyTrip by 1.2% in the 4th quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock valued at $287,773,000 after buying an additional 74,951 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in MakeMyTrip by 64.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after buying an additional 1,357,884 shares during the last quarter. Schroder Investment Management Group boosted its position in MakeMyTrip by 39.2% in the 4th quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock valued at $122,520,000 after buying an additional 734,336 shares during the last quarter. Baillie Gifford & Co. boosted its position in MakeMyTrip by 0.4% in the 4th quarter. Baillie Gifford & Co. now owns 2,284,324 shares of the technology company’s stock valued at $107,318,000 after buying an additional 10,099 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in MakeMyTrip in the 1st quarter valued at about $50,543,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Trading Down 1.4 %

The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $80.35 and its two-hundred day simple moving average is $66.42. The company has a market capitalization of $9.49 billion, a PE ratio of 53.54, a PEG ratio of 5.71 and a beta of 1.30.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. MakeMyTrip had a net margin of 27.70% and a return on equity of 10.66%. The business had revenue of $202.89 million for the quarter, compared to analysts’ expectations of $195.15 million. On average, analysts predict that MakeMyTrip Limited will post 1.31 earnings per share for the current year.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.