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

Shares of MakeMyTrip Limited (NASDAQ:MMYT) have received a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $86.75.

MMYT has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research report on Saturday, June 27th. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HSBC began coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price for the company. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Finally, Zacks Research upgraded MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, July 20th.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT opened at $61.24 on Thursday. The stock has a market cap of $5.76 billion, a PE ratio of 510.33 and a beta of 0.98. The business has a fifty day moving average of $54.82 and a two-hundred day moving average of $50.15. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $104.43.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group lifted its position in shares of MakeMyTrip by 13.8% during the fourth quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after purchasing an additional 869,728 shares in the last quarter. Royal Bank of Canada lifted its holdings in MakeMyTrip by 53.8% during the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock worth $130,464,000 after buying an additional 1,223,963 shares in the last quarter. Wasatch Advisors LP boosted its position in MakeMyTrip by 5.7% in the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after buying an additional 133,723 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in MakeMyTrip by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock valued at $201,064,000 after buying an additional 371,066 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in MakeMyTrip by 1.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,322,204 shares of the technology company’s stock valued at $190,699,000 after buying an additional 40,712 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.