MakeMyTrip (NASDAQ:MMYT) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $100.22 and traded as high as $122.35. MakeMyTrip shares last traded at $117.99, with a volume of 514,895 shares traded.

Analyst Ratings Changes

A number of analysts have issued reports on MMYT shares. Bank of America lifted their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Stock Performance

The business’s fifty day moving average is $110.77 and its two-hundred day moving average is $100.22. The stock has a market capitalization of $12.95 billion, a PE ratio of 64.48, a price-to-earnings-growth ratio of 6.59 and a beta of 1.29. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period last year, the company posted $0.18 EPS. As a group, research analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of MakeMyTrip by 51.2% in the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares during the last quarter. Jennison Associates LLC lifted its position in MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after buying an additional 1,710,773 shares during the last quarter. William Blair Investment Management LLC boosted its stake in MakeMyTrip by 54.5% during the second quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock worth $92,431,000 after buying an additional 387,695 shares during the period. Marshall Wace LLP increased its position in MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after acquiring an additional 539,067 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after acquiring an additional 107,814 shares during the period. 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.