MakeMyTrip (NASDAQ:MMYT) PT Raised to $100.00 at Bank of America

MakeMyTrip (NASDAQ:MMYT) had its target price lifted by equities researchers at Bank of America from $95.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s price target would indicate a potential upside of 11.67% from the stock’s current price.

Separately, StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.67.

MakeMyTrip Stock Down 1.5 %

Shares of NASDAQ MMYT opened at $89.55 on Wednesday. The stock has a market cap of $9.83 billion, a PE ratio of 53.62, a PEG ratio of 7.66 and a beta of 1.30. The business has a fifty day moving average of $83.30 and a two-hundred day moving average of $69.55. MakeMyTrip has a 52-week low of $28.13 and a 52-week high of $100.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.88.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $202.89 million during the quarter, compared to analysts’ expectations of $195.15 million. MakeMyTrip had a return on equity of 11.48% and a net margin of 26.11%. As a group, equities research analysts expect that MakeMyTrip will post 0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of MakeMyTrip by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock valued at $2,583,000 after buying an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after purchasing an additional 332 shares during the last quarter. Fifth Third Bancorp bought a new stake in MakeMyTrip during the 2nd quarter worth about $59,000. Blue Trust Inc. raised its holdings in MakeMyTrip by 12.3% during the 4th quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock worth $331,000 after purchasing an additional 774 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in MakeMyTrip during the 4th quarter worth about $50,000. 51.89% of the stock is owned by institutional investors.

About MakeMyTrip

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.