MakeMyTrip (NASDAQ:MMYT) Trading Up 4.6% – Time to Buy?

Shares of MakeMyTrip Limited (NASDAQ:MMYT) rose 4.6% during trading on Tuesday . The company traded as high as $102.66 and last traded at $102.43. Approximately 488,088 shares changed hands during trading, a decline of 32% from the average daily volume of 719,524 shares. The stock had previously closed at $97.95.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MMYT. StockNews.com lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Bank of America raised their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, December 27th.

MakeMyTrip Stock Performance

The business has a 50 day moving average price of $97.69 and a two-hundred day moving average price of $104.46. The stock has a market cap of $11.34 billion, a P/E ratio of 56.12, a price-to-earnings-growth ratio of 6.56 and a beta of 1.00. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a net margin of 25.42% and a return on equity of 11.46%. On average, sell-side analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in MakeMyTrip in the 4th quarter worth approximately $35,000. Steward Partners Investment Advisory LLC raised its stake in MakeMyTrip by 41.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company’s stock valued at $43,000 after purchasing an additional 111 shares in the last quarter. Parallel Advisors LLC lifted its position in MakeMyTrip by 1,014.9% during the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company’s stock valued at $51,000 after purchasing an additional 477 shares during the last quarter. Signaturefd LLC purchased a new position in shares of MakeMyTrip in the 4th quarter worth $74,000. Finally, Gen Wealth Partners Inc increased its holdings in shares of MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company’s stock worth $81,000 after buying an additional 165 shares during the last quarter. 51.89% of the stock is owned by institutional investors.

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.