MakeMyTrip (NASDAQ:MMYT) Now Covered by Analysts at HSBC

Research analysts at HSBC initiated coverage on shares of MakeMyTrip (NASDAQ:MMYT) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $70.00 price target on the technology company’s stock. HSBC’s price target points to a potential upside of 22.82% from the stock’s current price.

Other analysts have also issued reports about the company. Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 target price on MakeMyTrip in a research report on Saturday. Citigroup reiterated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Finally, Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.75.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT traded down $1.20 during midday trading on Thursday, reaching $56.99. The company’s stock had a trading volume of 87,692 shares, compared to its average volume of 1,553,251. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.99. The firm has a 50 day moving average price of $46.18 and a 200-day moving average price of $55.20. The stock has a market capitalization of $6.34 billion, a P/E ratio of 226.99 and a beta of 0.98.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MMYT. GeoWealth Management LLC boosted its stake in MakeMyTrip by 4.6% during the third quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock valued at $361,000 after buying an additional 169 shares during the period. Capital International Sarl raised its position in MakeMyTrip by 0.5% during the third quarter. Capital International Sarl now owns 37,903 shares of the technology company’s stock valued at $3,548,000 after purchasing an additional 179 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock valued at $199,000 after purchasing an additional 188 shares during the last quarter. Stone House Investment Management LLC lifted its position in MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after buying an additional 200 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in MakeMyTrip by 33.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,097 shares of the technology company’s stock worth $90,000 after buying an additional 278 shares during the last quarter. 51.89% of the stock is 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.