MakeMyTrip (NASDAQ:MMYT) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $50.54 and traded as high as $51.64. MakeMyTrip shares last traded at $50.75, with a volume of 1,280,671 shares changing hands.

Wall Street Analyst Weigh In

MMYT has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 26th. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Bank of America reduced their target price on MakeMyTrip from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Finally, Zacks Research cut MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, MakeMyTrip presently has an average rating of “Moderate Buy” and an average target price of $72.25.

MakeMyTrip Price Performance

The firm has a 50-day moving average price of $47.94 and a 200 day moving average price of $50.54. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 253.76 and a beta of 1.04.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Monday, October 26th. The technology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.43. The company had revenue of $235.16 million during the quarter, compared to the consensus estimate of $269.09 million. MakeMyTrip had a net margin of 3.91% and a negative return on equity of 312.82%. On average, equities analysts anticipate that MakeMyTrip Limited will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently bought and sold shares of MMYT. Temasek Holdings Private Ltd acquired a new position in shares of MakeMyTrip in the first quarter valued at approximately $63,447,000. Hsbc Holdings PLC acquired a new stake in MakeMyTrip during the 4th quarter worth about $4,512,000. Sei Investments Co. lifted its stake in MakeMyTrip by 17.5% in the first quarter. Sei Investments Co. now owns 652,971 shares of the technology company’s stock valued at $24,349,000 after buying an additional 97,377 shares during the period. Flossbach Von Storch SE bought a new position in MakeMyTrip during the second quarter worth $2,664,000. Finally, Coronation Fund Managers Ltd. boosted its position in shares of MakeMyTrip by 22.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,532,202 shares of the technology company’s stock worth $57,136,000 after purchasing an additional 280,923 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.