MakeMyTrip (NASDAQ:MMYT) Sets New 12-Month High – Should You Buy?

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price reached a new 52-week high on Monday . The company traded as high as $116.88 and last traded at $115.10, with a volume of 79309 shares. The stock had previously closed at $114.74.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MMYT. Bank of America increased their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

MakeMyTrip Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The stock has a 50-day moving average price of $103.27 and a 200-day moving average price of $94.29. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 63.63, a PEG ratio of 6.45 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.10. The business had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter last year, the firm posted $0.18 EPS. As a group, analysts forecast that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC acquired a new stake in MakeMyTrip during the 3rd quarter worth approximately $1,219,000. Citigroup Inc. grew its stake in shares of MakeMyTrip by 154.3% in the third quarter. Citigroup Inc. now owns 60,123 shares of the technology company’s stock valued at $5,588,000 after acquiring an additional 36,476 shares in the last quarter. GSA Capital Partners LLP bought a new position in MakeMyTrip during the third quarter worth about $674,000. Vanguard Group Inc. acquired a new stake in MakeMyTrip in the 1st quarter worth about $2,317,000. Finally, 1832 Asset Management L.P. bought a new stake in MakeMyTrip in the 2nd quarter valued at about $879,000. Institutional investors 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.