MakeMyTrip Limited Receives New Coverage from Analysts at Citigroup Inc. (MMYT)
Equities researchers at Citigroup Inc. initiated coverage on shares of MakeMyTrip Limited (NASDAQ:MMYT) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $27.00 price target on the stock. Citigroup Inc.’s price objective would indicate a potential upside of 29.12% from the company’s current price.
Shares of MakeMyTrip Limited (NASDAQ:MMYT) traded up 15.54% during mid-day trading on Wednesday, hitting $24.16. 153,673 shares of the company’s stock traded hands. MakeMyTrip Limited has a 1-year low of $12.50 and a 1-year high of $29.73. The stock’s 50-day moving average is $22.46 and its 200-day moving average is $21.66. The company’s market cap is $998.2 million.
MakeMyTrip Limited (NASDAQ:MMYT) last released its earnings data on Wednesday, May 21st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.04. The company had revenue of $60.85 million for the quarter, compared to the consensus estimate of $55.19 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 30.7% on a year-over-year basis.
A number of other firms have also recently commented on MMYT. Analysts at Goldman Sachs initiated coverage on shares of MakeMyTrip Limited in a research note on Tuesday, April 15th. They set a “neutral” rating and a $27.00 price target on the stock. Separately, analysts at Barclays initiated coverage on shares of MakeMyTrip Limited in a research note on Monday, March 24th. They set an “equal weight” rating and a $26.00 price target on the stock. Finally, analysts at Oppenheimer upgraded shares of MakeMyTrip Limited from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 19th. They now have a $28.00 price target on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.25.
MakeMyTrip Limited is an online travel company in India. The Company conducts its business principally through its Indian subsidiary, MakeMyTrip (NASDAQ:MMYT) Private Limited (MMT India).
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