Bank of America Raises MakeMyTrip (NASDAQ:MMYT) Price Target to $112.00

MakeMyTrip (NASDAQ:MMYT) had its price objective hoisted by Bank of America from $100.00 to $112.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

MMYT has been the subject of several other research reports. Citigroup boosted their price objective on MakeMyTrip from $93.00 to $115.00 and gave the stock a buy rating in a report on Wednesday, July 24th. StockNews.com raised shares of MakeMyTrip from a sell rating to a hold rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Up 0.7 %

Shares of NASDAQ:MMYT opened at $96.97 on Tuesday. The firm has a fifty day moving average price of $90.50 and a two-hundred day moving average price of $76.95. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 58.07, a PEG ratio of 6.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. MakeMyTrip has a one year low of $36.81 and a one year high of $101.50.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The company had revenue of $254.52 million during the quarter, compared to analyst estimates of $231.85 million. Analysts anticipate that MakeMyTrip will post 0.98 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in MakeMyTrip in the fourth quarter worth $636,000. Handelsbanken Fonder AB bought a new position in MakeMyTrip during the 4th quarter worth approximately $705,000. Russell Investments Group Ltd. increased its stake in MakeMyTrip by 39.9% in the 4th quarter. Russell Investments Group Ltd. now owns 107,698 shares of the technology company’s stock worth $5,060,000 after purchasing an additional 30,710 shares during the period. LGT Fund Management Co Ltd. bought a new stake in MakeMyTrip in the fourth quarter valued at approximately $517,000. Finally, Fisher Asset Management LLC lifted its position in MakeMyTrip by 29.8% in the fourth quarter. Fisher Asset Management LLC now owns 94,606 shares of the technology company’s stock valued at $4,445,000 after purchasing an additional 21,733 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

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.