MakeMyTrip (NASDAQ:MMYT) Price Target Increased to $115.00 by Analysts at Citigroup

MakeMyTrip (NASDAQ:MMYT) had its price objective upped by Citigroup from $93.00 to $115.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. Bank of America boosted their price target on MakeMyTrip from $95.00 to $100.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com raised MakeMyTrip from a sell rating to a hold rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $91.67.

MakeMyTrip Stock Performance

MakeMyTrip stock opened at $92.24 on Wednesday. The stock’s 50 day moving average price is $83.42 and its 200 day moving average price is $70.05. The firm has a market capitalization of $10.13 billion, a PE ratio of 55.23, a price-to-earnings-growth ratio of 7.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 2.78. MakeMyTrip has a one year low of $28.13 and a one year high of $100.22.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $202.89 million for the quarter, compared to analyst estimates of $195.15 million. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. As a group, sell-side analysts expect that MakeMyTrip will post 0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently bought and sold shares of MMYT. EverSource Wealth Advisors LLC increased its holdings in MakeMyTrip by 163.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after purchasing an additional 332 shares during the last quarter. USA Financial Formulas purchased a new stake in MakeMyTrip during the 4th quarter worth approximately $50,000. Fifth Third Bancorp purchased a new stake in MakeMyTrip during the 2nd quarter worth approximately $59,000. LRI Investments LLC purchased a new stake in MakeMyTrip during the 1st quarter worth approximately $149,000. Finally, Catalytic Wealth RIA LLC purchased a new stake in MakeMyTrip during the 4th quarter worth approximately $207,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

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.