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

MakeMyTrip (NASDAQ:MMYT) had its price target increased by Bank of America from $119.00 to $130.00 in a research report sent to investors on Friday, Marketbeat reports. They currently have a buy rating on the technology company’s stock.

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

MakeMyTrip Trading Down 1.4 %

MMYT stock opened at $114.53 on Friday. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 6.59 and a beta of 1.27. The company has a fifty day moving average price of $109.60 and a two-hundred day moving average price of $98.99. MakeMyTrip has a one year low of $43.31 and a one year high of $123.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81.

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, beating the consensus estimate of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The firm had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $214.90 million. During the same period in the prior year, the firm earned $0.18 EPS. Equities analysts anticipate that MakeMyTrip will post 1.29 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC raised its position in MakeMyTrip by 282.4% during the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares in the last quarter. FMR LLC boosted its position in MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after buying an additional 1,230,916 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after buying an additional 539,067 shares in the last quarter. Wasatch Advisors LP bought a new position in shares of MakeMyTrip in the 3rd quarter valued at $44,521,000. Finally, William Blair Investment Management LLC grew its position in MakeMyTrip by 54.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock worth $92,431,000 after acquiring an additional 387,695 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

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.