MakeMyTrip (NASDAQ:MMYT) Sees Unusually-High Trading Volume – Still a Buy?

MakeMyTrip Limited (NASDAQ:MMYT) shares saw strong trading volume on Tuesday . 570,984 shares changed hands during trading, a decline of 21% from the previous session’s volume of 722,193 shares.The stock last traded at $100.34 and had previously closed at $100.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MMYT shares. Bank of America boosted their price objective on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Citigroup boosted their price objective on shares of MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

MakeMyTrip Price Performance

The firm has a market cap of $11.32 billion, a P/E ratio of 55.11, a PEG ratio of 5.48 and a beta of 1.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. The company’s 50-day moving average is $101.64 and its two-hundred day moving average is $91.64.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The firm had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the previous year, the business posted $0.18 earnings per share. Sell-side analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently modified their holdings of MMYT. Tidal Investments LLC bought a new position in MakeMyTrip in the 1st quarter valued at approximately $3,891,000. Vanguard Group Inc. bought a new position in shares of MakeMyTrip during the first quarter valued at $2,317,000. GSA Capital Partners LLP acquired a new position in shares of MakeMyTrip during the third quarter worth $674,000. 1832 Asset Management L.P. bought a new stake in shares of MakeMyTrip in the second quarter worth $879,000. Finally, U S Global Investors Inc. raised its position in MakeMyTrip by 7.2% during the 3rd quarter. U S Global Investors Inc. now owns 105,335 shares of the technology company’s stock worth $9,791,000 after purchasing an additional 7,114 shares during the last quarter. Institutional investors and hedge funds 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.