MakeMyTrip (NASDAQ:MMYT) Sets New 12-Month High at $101.88

Shares of MakeMyTrip Limited (NASDAQ:MMYT) reached a new 52-week high on Thursday . The company traded as high as $101.88 and last traded at $100.33, with a volume of 74348 shares. The stock had previously closed at $99.85.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MMYT. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Bank of America raised their target price on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup boosted their price target on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Up 1.5 %

The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.28 billion, a P/E ratio of 61.55, a P/E/G ratio of 5.33 and a beta of 1.28. The business has a fifty day moving average of $92.97 and a 200 day moving average of $79.82.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The business had revenue of $254.52 million for the quarter, compared to the consensus estimate of $231.85 million. On average, equities research analysts predict that MakeMyTrip Limited will post 1.38 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

A number of hedge funds and other institutional investors have recently made changes to their positions in MMYT. EverSource Wealth Advisors LLC raised its stake in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after buying an additional 332 shares during the period. Fifth Third Bancorp acquired a new position in shares of MakeMyTrip in the 2nd quarter valued at approximately $59,000. nVerses Capital LLC bought a new stake in MakeMyTrip during the 2nd quarter worth approximately $143,000. LRI Investments LLC acquired a new stake in MakeMyTrip during the 1st quarter worth approximately $149,000. Finally, Catalytic Wealth RIA LLC bought a new position in MakeMyTrip in the fourth quarter valued at approximately $207,000. 51.89% of the stock is owned by institutional investors.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.