MakeMyTrip Limited (NASDAQ:MMYT) Receives Consensus Rating of “Moderate Buy” from Brokerages

MakeMyTrip Limited (NASDAQ:MMYT) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $86.75.

Several research analysts have recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a report on Saturday, June 27th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. HSBC assumed coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Finally, Zacks Research cut MakeMyTrip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently added to or reduced their stakes in the stock. GeoWealth Management LLC raised its stake 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 valued at $361,000 after acquiring an additional 169 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in MakeMyTrip by 10.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after purchasing an additional 188 shares during the last quarter. Stone House Investment Management LLC boosted its position in MakeMyTrip by 50.0% during the fourth quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after purchasing an additional 200 shares during the period. SBI Securities Co. Ltd. grew its holdings in MakeMyTrip by 33.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock valued at $90,000 after purchasing an additional 278 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in MakeMyTrip by 244.8% during the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Price Performance

MMYT stock opened at $54.62 on Friday. MakeMyTrip has a 1-year low of $32.67 and a 1-year high of $104.99. The firm has a fifty day moving average price of $48.46 and a two-hundred day moving average price of $53.07. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 218.48 and a beta of 0.98.

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.