MakeMyTrip (NASDAQ:MMYT) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a research note published on Wednesday.

Separately, Bank of America upped their price objective on MakeMyTrip from $88.00 to $95.00 and gave the company a buy rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $91.67.

MakeMyTrip Trading Up 3.0 %

Shares of NASDAQ MMYT opened at $92.24 on Wednesday. The stock’s 50 day moving average price is $83.42 and its two-hundred day moving average price is $70.05. MakeMyTrip has a 52-week low of $28.13 and a 52-week high of $100.22. The stock has a market capitalization of $10.13 billion, a P/E ratio of 55.23, a PEG ratio of 6.87 and a beta of 1.30. The company has a quick ratio of 2.88, 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, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The firm had revenue of $202.89 million for the quarter, compared to analysts’ expectations of $195.15 million. On average, analysts anticipate that MakeMyTrip will post 0.96 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. Bank of New York Mellon Corp increased its position in MakeMyTrip by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock valued at $2,583,000 after acquiring an additional 324 shares during the period. Calamos Wealth Management LLC increased its position in MakeMyTrip by 9.4% in the 2nd quarter. Calamos Wealth Management LLC now owns 48,983 shares of the technology company’s stock valued at $4,119,000 after acquiring an additional 4,193 shares during the period. Baillie Gifford & Co. increased its position in MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after acquiring an additional 1,879,726 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in MakeMyTrip in the 2nd quarter valued at approximately $1,168,000. Finally, Banque Pictet & Cie SA acquired a new stake in MakeMyTrip in the 2nd quarter valued at approximately $1,958,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.