Jefferies Group Initiates Coverage on MakeMyTrip Limited (MMYT)
Stock analysts at Jefferies Group began coverage on shares of MakeMyTrip Limited (NASDAQ:MMYT) in a report issued on Tuesday. The firm set a “buy” rating and a $37.00 price target on the stock. Jefferies Group’s price target would indicate a potential upside of 24.58% from the stock’s previous close.
MakeMyTrip Limited (NASDAQ:MMYT) traded down 3.27% during mid-day trading on Tuesday, hitting $28.73. The stock had a trading volume of 141,033 shares. MakeMyTrip Limited has a 52-week low of $13.16 and a 52-week high of $36.12. The stock has a 50-day moving average of $30.00 and a 200-day moving average of $26.19. The company’s market cap is $1.198 billion.
MakeMyTrip Limited (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.05) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.01) by $0.04. The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $77.16 million. During the same quarter last year, the company posted $0.05 earnings per share. MakeMyTrip Limited’s revenue was up 36.5% compared to the same quarter last year.
A number of other analysts have also recently weighed in on MMYT. Analysts at Deutsche Bank reiterated a “hold” rating on shares of MakeMyTrip Limited in a research note on Thursday, July 31st. They now have a $27.00 price target on the stock, up previously from $25.00. Separately, analysts at Zacks downgraded shares of MakeMyTrip Limited from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $33.30 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of MakeMyTrip Limited from $14.00 to $20.00 in a research note on Wednesday, May 28th. They now have a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. MakeMyTrip Limited presently has an average rating of “Hold” and an average target price of $27.14.
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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