MakeMyTrip (NASDAQ:MMYT) Sets New 1-Year High at $94.99

Shares of MakeMyTrip Limited (NASDAQ:MMYT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $94.99 and last traded at $94.99, with a volume of 693 shares. The stock had previously closed at $90.23.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MMYT shares. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday. Bank of America increased their target price on shares of MakeMyTrip from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.67.

MakeMyTrip Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 54.03, a P/E/G ratio of 5.23 and a beta of 1.30. The stock’s 50-day moving average is $81.03 and its 200 day moving average is $67.01.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results 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. MakeMyTrip had a net margin of 27.70% and a return on equity of 10.66%. The company had revenue of $202.89 million during the quarter, compared to analysts’ expectations of $195.15 million. As a group, analysts predict that MakeMyTrip Limited will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MMYT. Artisan Partners Limited Partnership increased its holdings in MakeMyTrip by 64.7% in the fourth 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 in the last quarter. Schroder Investment Management Group grew its stake 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 worth $122,520,000 after acquiring an additional 734,336 shares during the period. William Blair Investment Management LLC purchased a new stake in MakeMyTrip in the 1st quarter worth approximately $50,543,000. American Century Companies Inc. purchased a new stake in MakeMyTrip in the 3rd quarter worth approximately $22,602,000. Finally, Aubrey Capital Management Ltd purchased a new stake in MakeMyTrip in the 4th quarter worth approximately $14,968,000. 51.89% of the stock is owned by hedge funds and other 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.