MakeMyTrip (NASDAQ:MMYT) Trading Up 2.7% – Time to Buy?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price shot up 2.7% during trading on Monday . The stock traded as high as $90.63 and last traded at $89.49. 96,253 shares were traded during mid-day trading, a decline of 87% from the average session volume of 717,032 shares. The stock had previously closed at $87.12.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price 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 lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th.

MakeMyTrip Stock Up 4.5 %

The business’s 50 day moving average price is $101.07 and its 200 day moving average price is $105.07. 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 firm has a market cap of $9.99 billion, a PE ratio of 49.48, a PEG ratio of 6.56 and a beta of 1.00.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. On average, equities research analysts expect that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rheos Capital Works Inc. lifted its position in MakeMyTrip by 237.5% in the fourth quarter. Rheos Capital Works Inc. now owns 135,000 shares of the technology company’s stock valued at $15,158,000 after buying an additional 95,000 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of MakeMyTrip in the third quarter valued at $1,134,000. New York State Common Retirement Fund grew its position in MakeMyTrip by 100.2% in the 4th quarter. New York State Common Retirement Fund now owns 101,279 shares of the technology company’s stock valued at $11,372,000 after acquiring an additional 50,689 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of MakeMyTrip by 7.7% in the third quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company’s stock valued at $25,397,000 after purchasing an additional 19,471 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in MakeMyTrip by 9.2% in the 4th quarter. Handelsbanken Fonder AB now owns 44,924 shares of the technology company’s stock valued at $5,044,000 after buying an additional 3,800 shares during the period. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.