MakeMyTrip (NASDAQ:MMYT) Rating Increased to Hold at Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also recently weighed in on MMYT. Citigroup restated a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MakeMyTrip currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $46.72 on Friday. The company has a fifty day moving average price of $45.19 and a 200-day moving average price of $56.54. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 186.88 and a beta of 1.01. The company has a debt-to-equity ratio of 38.85, a current ratio of 3.05 and a quick ratio of 3.05. MakeMyTrip has a 1 year low of $32.67 and a 1 year high of $104.99.

Institutional Investors Weigh In On MakeMyTrip

A number of hedge funds have recently made changes to their positions in MMYT. GeoWealth Management LLC boosted its holdings in shares of MakeMyTrip by 4.6% in the 3rd quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock worth $361,000 after buying an additional 169 shares during the last quarter. Capital International Sarl increased its holdings in MakeMyTrip by 0.5% during the third quarter. Capital International Sarl now owns 37,903 shares of the technology company’s stock worth $3,548,000 after buying an additional 179 shares during the last quarter. Osaic Holdings Inc. increased its holdings in MakeMyTrip by 10.2% during the second quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after buying an additional 188 shares during the last quarter. Stone House Investment Management LLC raised its position in MakeMyTrip by 50.0% in the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after acquiring an additional 200 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in MakeMyTrip by 33.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock worth $90,000 after acquiring an additional 278 shares during the period. 51.89% of the stock is currently owned by institutional investors.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.