Bank of America Boosts MakeMyTrip (NASDAQ:MMYT) Price Target to $119.00

MakeMyTrip (NASDAQ:MMYT) had its price target boosted by analysts at Bank of America from $112.00 to $119.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s target price points to a potential upside of 15.10% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MMYT. StockNews.com upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Citigroup increased their target price on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

MakeMyTrip Stock Performance

Shares of MMYT stock traded up $4.24 during trading hours on Thursday, reaching $103.39. 337,574 shares of the company’s stock were exchanged, compared to its average volume of 738,499. MakeMyTrip has a 1 year low of $36.81 and a 1 year high of $110.49. The company has a market cap of $11.35 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 5.65 and a beta of 1.28. The company’s 50 day moving average is $98.93 and its two-hundred day moving average is $86.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The firm had revenue of $254.52 million during the quarter, compared to analyst estimates of $231.85 million. Equities research analysts anticipate that MakeMyTrip will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On MakeMyTrip

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Entropy Technologies LP purchased a new stake in shares of MakeMyTrip during the first quarter valued at $472,000. Tidal Investments LLC acquired a new stake in shares of MakeMyTrip in the 1st quarter worth $3,891,000. Capital Wealth Planning LLC acquired a new stake in shares of MakeMyTrip in the 1st quarter worth $2,274,000. Vanguard Group Inc. purchased a new position in MakeMyTrip during the 1st quarter valued at about $2,317,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of MakeMyTrip in the 1st quarter valued at about $6,470,000. 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.