Bank of America Cuts MakeMyTrip (NASDAQ:MMYT) Price Target to $113.00

MakeMyTrip (NASDAQ:MMYT) had its target price trimmed by Bank of America from $115.00 to $113.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms have also recently weighed in on MMYT. Weiss Ratings began coverage on shares of MakeMyTrip in a research note on Thursday, October 30th. They set a “hold (c)” rating for the company. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

MakeMyTrip Trading Down 1.7%

MMYT stock opened at $83.25 on Wednesday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.91 and a quick ratio of 1.91. MakeMyTrip has a 1-year low of $69.69 and a 1-year high of $122.35. The business has a 50 day simple moving average of $79.15 and a two-hundred day simple moving average of $90.43. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 130.08 and a beta of 0.70.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently modified their holdings of MMYT. WPG Advisers LLC purchased a new stake in MakeMyTrip in the first quarter worth $28,000. Twin Tree Management LP bought a new position in shares of MakeMyTrip in the first quarter worth about $29,000. Parallel Advisors LLC increased its stake in MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after buying an additional 284 shares during the period. First Horizon Advisors Inc. purchased a new position in MakeMyTrip in the 2nd quarter worth about $43,000. Finally, Farther Finance Advisors LLC bought a new stake in MakeMyTrip during the 2nd quarter valued at about $50,000. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Company Profile

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.