MakeMyTrip (NASDAQ:MMYT) Price Target Raised to $130.00

MakeMyTrip (NASDAQ:MMYT - Get Free Report) had its price target boosted by analysts at Bank of America from $119.00 to $130.00 in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the technology company's stock. Bank of America's price objective would indicate a potential upside of 13.51% from the company's current price.

Separately, StockNews.com lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th.

MakeMyTrip Stock Down 1.4 %

Shares of MMYT traded down $1.68 during midday trading on Friday, hitting $114.53. The stock had a trading volume of 197,111 shares, compared to its average volume of 698,924. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 6.59 and a beta of 1.27. The company has a 50 day simple moving average of $109.34 and a two-hundred day simple moving average of $98.46. MakeMyTrip has a twelve month low of $43.31 and a twelve month high of $123.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last announced 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. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The business had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter last year, the firm earned $0.18 EPS. On average, analysts anticipate that MakeMyTrip will post 1.29 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new position in MakeMyTrip during the third quarter worth $1,134,000. Tidal Investments LLC boosted its holdings in shares of MakeMyTrip by 5.9% during the 3rd quarter. Tidal Investments LLC now owns 39,981 shares of the technology company's stock worth $3,716,000 after buying an additional 2,221 shares during the period. Virtu Financial LLC grew its stake in MakeMyTrip by 338.3% in the 3rd quarter. Virtu Financial LLC now owns 11,593 shares of the technology company's stock valued at $1,078,000 after buying an additional 8,948 shares during the last quarter. Geode Capital Management LLC raised its holdings in MakeMyTrip by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company's stock valued at $25,397,000 after acquiring an additional 19,471 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in MakeMyTrip during the third quarter worth approximately $858,000. 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.