MakeMyTrip (NASDAQ:MMYT) Upgraded at StockNews.com

MakeMyTrip (NASDAQ:MMYT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also weighed in on MMYT. Bank of America raised their price objective on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Citigroup raised their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th.

MakeMyTrip Trading Up 0.1 %

Shares of MakeMyTrip stock opened at $106.92 on Tuesday. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 58.43, a PEG ratio of 6.00 and a beta of 1.27. The business has a 50-day moving average price of $100.52 and a 200-day moving average price of $90.16. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. MakeMyTrip has a twelve month low of $41.11 and a twelve month high of $113.61.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The firm had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter last year, the business posted $0.18 earnings per share. Equities research analysts anticipate that MakeMyTrip will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Place Capital Corp purchased a new position in MakeMyTrip in the third quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its position in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after buying an additional 332 shares during the period. Advisors Asset Management Inc. boosted its position in shares of MakeMyTrip by 100.9% during the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after buying an additional 225 shares during the period. Fifth Third Bancorp purchased a new position in shares of MakeMyTrip during the second quarter valued at approximately $59,000. Finally, nVerses Capital LLC purchased a new position in shares of MakeMyTrip during the second quarter valued at approximately $143,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

About MakeMyTrip

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.