MakeMyTrip (NASDAQ:MMYT) Stock Price Passes Above 200 Day Moving Average of $64.78

MakeMyTrip Limited (NASDAQ:MMYT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $64.78 and traded as high as $87.76. MakeMyTrip shares last traded at $86.28, with a volume of 659,571 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Friday, May 24th.

MakeMyTrip Price Performance

The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $77.78 and its two-hundred day moving average price is $64.78. The stock has a market capitalization of $9.16 billion, a PE ratio of 51.66, a PEG ratio of 5.54 and a beta of 1.30.

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

Institutional Investors Weigh In On MakeMyTrip

A number of large investors have recently made changes to their positions in MMYT. Lazard Asset Management LLC grew its position in MakeMyTrip by 70.8% during the third quarter. Lazard Asset Management LLC now owns 89,561 shares of the technology company’s stock valued at $3,628,000 after buying an additional 37,113 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of MakeMyTrip by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 467,161 shares of the technology company’s stock valued at $18,929,000 after acquiring an additional 8,148 shares during the period. Penserra Capital Management LLC raised its holdings in MakeMyTrip by 82.9% in the 3rd quarter. Penserra Capital Management LLC now owns 165,745 shares of the technology company’s stock worth $6,715,000 after purchasing an additional 75,140 shares during the period. American Century Companies Inc. purchased a new position in MakeMyTrip during the third quarter valued at $22,602,000. Finally, MayTech Global Investments LLC grew its holdings in MakeMyTrip by 20.6% during the third quarter. MayTech Global Investments LLC now owns 233,402 shares of the technology company’s stock valued at $9,457,000 after purchasing an additional 39,797 shares during the period. 51.89% of the stock is currently 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.