MakeMyTrip Limited (NASDAQ:MMYT) Receives $29.50 Consensus Price Target from Analysts

MakeMyTrip Limited (NASDAQ:MMYT) has been given an average recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $29.50.

MMYT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. TheStreet downgraded MakeMyTrip from a “c-” rating to a “d+” rating in a report on Tuesday, October 8th. Bank of America raised MakeMyTrip from an “underperform” rating to a “buy” rating and upped their price target for the company from $22.50 to $27.00 in a research report on Monday, November 4th. BidaskClub raised MakeMyTrip from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Goldman Sachs Group set a $32.00 price objective on MakeMyTrip and gave the stock a “buy” rating in a research report on Monday, September 23rd.

A number of institutional investors and hedge funds have recently made changes to their positions in MMYT. State Street Corp increased its stake in MakeMyTrip by 6.7% in the 3rd quarter. State Street Corp now owns 63,832 shares of the technology company’s stock valued at $1,448,000 after buying an additional 3,998 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of MakeMyTrip by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,216,018 shares of the technology company’s stock valued at $95,662,000 after buying an additional 308,040 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of MakeMyTrip by 63.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,657 shares of the technology company’s stock valued at $38,000 after acquiring an additional 642 shares in the last quarter. Coronation Fund Managers Ltd. grew its holdings in shares of MakeMyTrip by 4,351.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 1,298,225 shares of the technology company’s stock valued at $29,456,000 after acquiring an additional 1,269,059 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of MakeMyTrip by 107.3% in the third quarter. California Public Employees Retirement System now owns 81,246 shares of the technology company’s stock worth $1,843,000 after acquiring an additional 42,046 shares during the last quarter. 42.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MMYT stock traded down $0.23 during trading hours on Friday, reaching $24.63. 14,005 shares of the stock traded hands, compared to its average volume of 284,859. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.68 billion, a PE ratio of -15.30 and a beta of 0.43. MakeMyTrip has a 1-year low of $19.66 and a 1-year high of $32.30. The business has a fifty day moving average price of $24.45 and a 200 day moving average price of $24.44.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Monday, November 4th. The technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.05). MakeMyTrip had a negative return on equity of 11.20% and a negative net margin of 29.59%. The firm had revenue of $181.08 million for the quarter, compared to analysts’ expectations of $179.99 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts expect that MakeMyTrip will post -1.26 earnings per share for the current fiscal year.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

Further Reading: What is operating income?

Receive News & Ratings for MakeMyTrip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MakeMyTrip and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit