MakeMyTrip (NASDAQ:MMYT) Price Target Increased to $119.00 by Analysts at Bank of America

MakeMyTrip (NASDAQ:MMYT) had its price objective lifted by Bank of America from $112.00 to $119.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective indicates a potential upside of 15.86% from the company’s current price.

Other equities research analysts have also issued reports about the company. Citigroup lifted their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Down 1.2 %

MMYT stock opened at $102.71 on Thursday. The company has a 50 day moving average of $99.24 and a two-hundred day moving average of $87.17. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 5.88 and a beta of 1.28. MakeMyTrip has a 12-month low of $36.81 and a 12-month high of $110.49. The company has a quick ratio of 2.77, a current ratio of 2.78 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The business had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. During the same period last year, the company earned $0.18 earnings per share. On average, equities analysts anticipate that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of MakeMyTrip

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Park Place Capital Corp acquired a new position in shares of MakeMyTrip during the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position in MakeMyTrip by 163.5% during the first 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 period. Fifth Third Bancorp acquired a new position in MakeMyTrip during the second quarter valued at approximately $59,000. nVerses Capital LLC bought a new position in shares of MakeMyTrip in the second quarter valued at approximately $143,000. Finally, LRI Investments LLC acquired a new stake in shares of MakeMyTrip in the first quarter worth $149,000. 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.