MakeMyTrip (NASDAQ:MMYT) Shares Up 5.9% – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price rose 5.9% during mid-day trading on Thursday . The company traded as high as $109.30 and last traded at $109.22. Approximately 752,695 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 674,861 shares. The stock had previously closed at $103.15.

Analyst Ratings Changes

MMYT has been the topic of several analyst reports. Bank of America lifted their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, December 27th. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday.

MakeMyTrip Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The stock has a market capitalization of $11.97 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 5.55 and a beta of 1.29. The stock’s 50 day moving average is $111.92 and its two-hundred day moving average is $102.37.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. On average, equities analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of large investors have recently modified their holdings of MMYT. Jennison Associates LLC boosted its position in MakeMyTrip by 282.4% during the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after acquiring an additional 1,710,773 shares during the last quarter. FMR LLC grew its position in shares of MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of MakeMyTrip in the third quarter valued at approximately $44,521,000. The Manufacturers Life Insurance Company lifted its position in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock worth $58,750,000 after buying an additional 107,814 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in MakeMyTrip during the third quarter worth $9,388,000. 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.