MakeMyTrip (NASDAQ:MMYT) Price Target Raised to $119.00 at Bank of America

MakeMyTrip (NASDAQ:MMYT) had its target price hoisted by Bank of America from $112.00 to $119.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts have also commented on MMYT. Citigroup lifted their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.

MakeMyTrip Price Performance

MMYT stock traded down $0.27 during trading on Thursday, reaching $103.72. 71,356 shares of the company were exchanged, compared to its average volume of 736,619. MakeMyTrip has a twelve month low of $36.81 and a twelve month high of $110.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 61.53, a P/E/G ratio of 5.88 and a beta of 1.28. The company has a 50-day moving average of $99.08 and a two-hundred day moving average of $86.92.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. During the same period in the prior year, the company earned $0.18 EPS. As a group, equities analysts predict that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in MakeMyTrip by 44.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,062 shares of the technology company’s stock valued at $23,708,000 after purchasing an additional 78,745 shares during the period. U S Global Investors Inc. raised its stake in MakeMyTrip by 7.2% during the third quarter. U S Global Investors Inc. now owns 105,335 shares of the technology company’s stock worth $9,791,000 after buying an additional 7,114 shares during the last quarter. Carrhae Capital LLP lifted its holdings in MakeMyTrip by 20.8% in the third quarter. Carrhae Capital LLP now owns 354,959 shares of the technology company’s stock valued at $32,993,000 after buying an additional 61,138 shares during the period. Blue Trust Inc. boosted its position in MakeMyTrip by 48.4% during the third quarter. Blue Trust Inc. now owns 14,402 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in MakeMyTrip during the 3rd quarter worth about $338,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.