MakeMyTrip Limited (NASDAQ:MMYT – Get Free Report)’s share price fell 4.8% on Tuesday . The stock traded as low as $92.51 and last traded at $92.74. 136,309 shares were traded during trading, a decline of 82% from the average session volume of 755,117 shares. The stock had previously closed at $97.44.
Analysts Set New Price Targets
Several brokerages have recently weighed in on MMYT. Bank of America raised their target price on MakeMyTrip from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Citigroup raised their target price on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.
Check Out Our Latest Stock Analysis on MakeMyTrip
MakeMyTrip Stock Down 4.0 %
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. The business had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. As a group, analysts expect that MakeMyTrip Limited will post 0.98 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MakeMyTrip
Hedge funds have recently bought and sold shares of the company. Raymond James & Associates bought a new stake in shares of MakeMyTrip during the fourth quarter valued at approximately $733,000. Federated Hermes Inc. acquired a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $636,000. Handelsbanken Fonder AB acquired a new position in shares of MakeMyTrip during the fourth quarter valued at approximately $705,000. State of New Jersey Common Pension Fund D acquired a new position in MakeMyTrip in the fourth quarter worth approximately $5,573,000. Finally, Aubrey Capital Management Ltd acquired a new position in MakeMyTrip in the fourth quarter worth approximately $14,968,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.
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.
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