Bank of America Boosts MakeMyTrip (NASDAQ:MMYT) Price Target to $130.00

MakeMyTrip (NASDAQ:MMYT) had its target price hoisted by research analysts at Bank of America from $119.00 to $130.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s target price would indicate a potential upside of 11.87% from the stock’s previous close.

Separately, StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

MakeMyTrip Price Performance

Shares of NASDAQ MMYT opened at $116.21 on Friday. 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 market capitalization of $12.76 billion, a price-to-earnings ratio of 63.50, a PEG ratio of 6.59 and a beta of 1.27. The firm’s 50 day simple moving average is $109.34 and its 200-day simple moving average is $98.46. MakeMyTrip has a 12 month low of $43.31 and a 12 month high of $123.00.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. The business had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the prior year, the company posted $0.18 EPS. Analysts expect that MakeMyTrip will post 1.29 EPS for the current year.

Institutional Trading of MakeMyTrip

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of MakeMyTrip by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock valued at $2,583,000 after purchasing an additional 324 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in MakeMyTrip during the second quarter worth approximately $602,000. Van ECK Associates Corp boosted its stake in MakeMyTrip by 5.9% during the second quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock worth $1,191,000 after buying an additional 791 shares during the last quarter. nVerses Capital LLC purchased a new stake in MakeMyTrip in the 2nd quarter valued at $143,000. Finally, Acadian Asset Management LLC increased its stake in shares of MakeMyTrip by 27.1% in the 2nd quarter. Acadian Asset Management LLC now owns 343,235 shares of the technology company’s stock worth $28,854,000 after acquiring an additional 73,092 shares during the last quarter. Institutional investors and hedge funds 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.