MakeMyTrip (NASDAQ:MMYT) Trading 3.8% Higher

MakeMyTrip Limited (NASDAQ:MMYT) traded up 3.8% during trading on Tuesday . The company traded as high as $97.50 and last traded at $97.37. 87,015 shares changed hands during trading, a decline of 88% from the average session volume of 737,167 shares. The stock had previously closed at $93.82.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MMYT shares. Bank of America raised their price target on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Citigroup boosted their price target on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. The company has a fifty day moving average of $92.38 and a two-hundred day moving average of $79.35. The stock has a market capitalization of $10.96 billion, a P/E ratio of 59.79, a price-to-earnings-growth ratio of 4.98 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. The firm had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. On average, equities analysts anticipate that MakeMyTrip Limited will post 1.38 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

A number of hedge funds have recently added to or reduced their stakes in MMYT. FIL Ltd grew its holdings in MakeMyTrip by 1.2% in the 4th quarter. FIL Ltd now owns 6,125,434 shares of the technology company’s stock worth $287,773,000 after buying an additional 74,951 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of MakeMyTrip by 85.7% in the second quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after purchasing an additional 1,879,726 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of MakeMyTrip by 64.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,455,196 shares of the technology company’s stock valued at $162,325,000 after purchasing an additional 1,357,884 shares during the period. Schroder Investment Management Group increased its holdings in shares of MakeMyTrip by 39.2% during the fourth quarter. Schroder Investment Management Group now owns 2,607,916 shares of the technology company’s stock valued at $122,520,000 after purchasing an additional 734,336 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of MakeMyTrip by 54.5% during the second quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after purchasing an additional 387,695 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors.

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.