MakeMyTrip (NASDAQ:MMYT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts also recently weighed in on the company. HSBC started coverage on MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price target for the company. Zacks Research raised shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, July 20th. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a research note on Saturday, June 27th. Finally, Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, MakeMyTrip has a consensus rating of “Buy” and a consensus target price of $86.75.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $60.42 on Friday. MakeMyTrip has a 1-year low of $32.67 and a 1-year high of $104.43. The stock’s fifty day moving average price is $53.64 and its 200 day moving average price is $50.28. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 503.50 and a beta of 0.98.

Institutional Trading of MakeMyTrip

Large investors have recently made changes to their positions in the business. Leonteq Securities AG purchased a new position in shares of MakeMyTrip during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in MakeMyTrip by 74.3% during the first quarter. EverSource Wealth Advisors LLC now owns 990 shares of the technology company’s stock valued at $37,000 after purchasing an additional 422 shares during the period. Parallel Advisors LLC boosted its holdings in MakeMyTrip by 244.8% in the third quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in MakeMyTrip in the fourth quarter valued at $46,000. Finally, Rakuten Securities Inc. grew its position in MakeMyTrip by 893.9% during the 4th quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock worth $54,000 after purchasing an additional 590 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.