MakeMyTrip Limited (NASDAQ:MMYT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $96.50.

MMYT has been the subject of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of MakeMyTrip in a research report on Thursday, May 7th. Citigroup restated a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Zacks Research lowered shares of MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th.

Institutional Trading of MakeMyTrip

A number of hedge funds have recently made changes to their positions in MMYT. Royal Bank of Canada lifted its stake in MakeMyTrip by 780.3% in the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after buying an additional 2,016,281 shares during the period. Capital Research Global Investors acquired a new position in MakeMyTrip in the fourth quarter valued at approximately $150,069,000. Temasek Holdings Private Ltd acquired a new position in shares of MakeMyTrip during the 1st quarter valued at $63,447,000. Norges Bank acquired a new position in shares of MakeMyTrip during the 4th quarter valued at $90,284,000. Finally, Wasatch Advisors LP lifted its position in shares of MakeMyTrip by 64.2% during the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock valued at $87,249,000 after acquiring an additional 914,402 shares during the period. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Trading Up 1.0%

Shares of MMYT stock opened at $46.57 on Wednesday. The firm has a 50 day moving average price of $45.39 and a two-hundred day moving average price of $56.06. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 38.85. The company has a market capitalization of $5.18 billion, a PE ratio of 186.28 and a beta of 1.01. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.99.

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.