MakeMyTrip (NASDAQ:MMYT) Price Target Increased to $112.00 by Analysts at Bank of America

MakeMyTrip (NASDAQ:MMYT) had its target price boosted by Bank of America from $100.00 to $112.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also commented on MMYT. Citigroup lifted their price objective on MakeMyTrip from $93.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. StockNews.com raised MakeMyTrip from a sell rating to a hold rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $97.96 on Tuesday. The business’s 50-day moving average price is $89.93 and its 200-day moving average price is $76.67. MakeMyTrip has a 12 month low of $36.81 and a 12 month high of $101.50. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 6.76 and a beta of 1.30. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. The firm had revenue of $254.52 million for the quarter, compared to analyst estimates of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. Equities research analysts forecast that MakeMyTrip will post 0.98 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after acquiring an additional 332 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of MakeMyTrip during the second quarter valued at approximately $59,000. USA Financial Formulas bought a new stake in shares of MakeMyTrip during the fourth quarter valued at approximately $50,000. nVerses Capital LLC bought a new stake in shares of MakeMyTrip during the second quarter valued at approximately $143,000. Finally, LRI Investments LLC bought a new stake in shares of MakeMyTrip during the first quarter valued at approximately $149,000. 51.89% of the stock is currently owned by institutional investors.

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.