MakeMyTrip (NASDAQ:MMYT) Trading Up 5.2%

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price was up 5.2% on Wednesday . The stock traded as high as $98.32 and last traded at $98.32. Approximately 225,988 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 755,311 shares. The stock had previously closed at $93.50.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMYT. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Bank of America boosted their price target on shares of MakeMyTrip from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup boosted their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Price Performance

The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $87.95 and a 200-day moving average of $75.23. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 58.89, a P/E/G ratio of 6.76 and a beta of 1.30.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. The firm had revenue of $254.52 million for the quarter, compared to the consensus estimate of $231.85 million. On average, equities research analysts predict that MakeMyTrip Limited will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

A number of hedge funds and other institutional investors have recently made changes to their positions in MMYT. EverSource Wealth Advisors LLC lifted its position in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after acquiring an additional 332 shares during the period. USA Financial Formulas acquired a new stake in shares of MakeMyTrip during the fourth quarter worth $50,000. Fifth Third Bancorp purchased a new position in MakeMyTrip in the 2nd quarter valued at $59,000. nVerses Capital LLC acquired a new position in MakeMyTrip in the 2nd quarter valued at $143,000. Finally, LRI Investments LLC acquired a new stake in shares of MakeMyTrip in the 1st quarter worth $149,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Company Profile

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.