MakeMyTrip (NASDAQ:MMYT) Stock Rating Upgraded by Wall Street Zen

MakeMyTrip (NASDAQ:MMYT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. HSBC assumed coverage on MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 price target on the stock. Bank of America lowered their price objective on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 28th. Zacks Research lowered MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a report on Saturday, June 27th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $42.09 on Friday. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 350.75 and a beta of 1.07. The stock’s fifty day moving average price is $50.45 and its two-hundred day moving average price is $50.06. MakeMyTrip has a 52-week low of $32.67 and a 52-week high of $92.09.

Hedge Funds Weigh In On MakeMyTrip

A number of hedge funds and other institutional investors have recently bought and sold shares of MMYT. EverSource Wealth Advisors LLC increased its position in shares of MakeMyTrip by 74.3% during the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock worth $37,000 after acquiring an additional 422 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of MakeMyTrip by 26.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,007 shares of the technology company’s stock worth $95,000 after acquiring an additional 422 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of MakeMyTrip by 416.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 677 shares of the technology company’s stock worth $56,000 after acquiring an additional 546 shares during the last quarter. Signaturefd LLC lifted its position in MakeMyTrip by 9.0% in the 3rd quarter. Signaturefd LLC now owns 7,309 shares of the technology company’s stock valued at $345,000 after acquiring an additional 602 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in MakeMyTrip by 31.0% in the 1st quarter. SG Americas Securities LLC now owns 12,731 shares of the technology company’s stock valued at $475,000 after acquiring an additional 3,016 shares in the last quarter. 51.89% of the stock is owned by institutional investors.

About MakeMyTrip

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.