MakeMyTrip (NASDAQ:MMYT) Price Target Raised to $130.00

MakeMyTrip (NASDAQ:MMYT) had its price objective lifted by Bank of America from $119.00 to $130.00 in a research report report published on Friday morning, Marketbeat reports. The firm currently has a buy rating on the technology company’s stock.

Separately, StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

MakeMyTrip Stock Down 1.4 %

Shares of MMYT opened at $114.53 on Friday. MakeMyTrip has a 52-week low of $43.31 and a 52-week high of $123.00. The company has a market capitalization of $12.57 billion, a PE ratio of 62.58, a price-to-earnings-growth ratio of 6.59 and a beta of 1.27. The stock has a fifty day simple moving average of $109.60 and a two-hundred day simple moving average of $98.70. 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 (NASDAQ:MMYT) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The business had revenue of $210.99 million during the quarter, compared to analysts’ expectations of $214.90 million. During the same period in the prior year, the business posted $0.18 EPS. As a group, equities analysts forecast that MakeMyTrip will post 1.29 EPS for the current year.

Institutional Trading of MakeMyTrip

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in MakeMyTrip by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock worth $2,583,000 after buying an additional 324 shares during the period. Ameritas Advisory Services LLC purchased a new stake in MakeMyTrip in the 2nd quarter valued at $602,000. Van ECK Associates Corp boosted its stake in MakeMyTrip by 5.9% during the 2nd quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock worth $1,191,000 after purchasing an additional 791 shares during the period. nVerses Capital LLC acquired a new position in MakeMyTrip in the second quarter valued at $143,000. Finally, Acadian Asset Management LLC raised its holdings in shares of MakeMyTrip by 27.1% in the second quarter. Acadian Asset Management LLC now owns 343,235 shares of the technology company’s stock valued at $28,854,000 after buying an additional 73,092 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other 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.