MakeMyTrip (NASDAQ:MMYT) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $100.22 and traded as high as $122.35. MakeMyTrip shares last traded at $117.99, with a volume of 514,895 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on MMYT shares. Bank of America raised their price objective on MakeMyTrip from $119.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, December 27th. StockNews.com cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th.

MakeMyTrip Trading Down 4.3 %

The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 61.69, a PEG ratio of 6.59 and a beta of 1.29. The business's 50 day simple moving average is $111.09 and its 200 day simple moving average is $100.47. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.10. The firm had revenue of $210.99 million during the quarter, compared to analysts' expectations of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the previous year, the business posted $0.18 earnings per share. On average, research analysts expect that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently made changes to their positions in MMYT. FMR LLC raised its stake in MakeMyTrip by 51.2% in the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company's stock worth $337,917,000 after purchasing an additional 1,230,916 shares in the last quarter. Jennison Associates LLC raised its stake in MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company's stock valued at $215,325,000 after purchasing an additional 1,710,773 shares in the last quarter. William Blair Investment Management LLC lifted its position in MakeMyTrip by 54.5% during the second quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company's stock worth $92,431,000 after purchasing an additional 387,695 shares during the period. Marshall Wace LLP boosted its position in shares of MakeMyTrip by 129.2% during the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company's stock worth $80,414,000 after acquiring an additional 539,067 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of MakeMyTrip by 20.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company's stock valued at $58,750,000 after purchasing an additional 107,814 shares in the last quarter. Institutional investors own 51.89% of the company's stock.

MakeMyTrip Company Profile

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.