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

MakeMyTrip (NASDAQ:MMYT - Free Report) had its price objective hoisted by Bank of America from $112.00 to $119.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other research analysts have also recently commented on MMYT. StockNews.com upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a research note on Wednesday, July 24th. Citigroup raised their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded up $4.84 on Thursday, reaching $103.99. The stock had a trading volume of 605,680 shares, compared to its average volume of 739,849. The business's 50 day moving average is $99.08 and its two-hundred day moving average is $86.92. The company has a market cap of $11.42 billion, a P/E ratio of 62.27, a price-to-earnings-growth ratio of 5.65 and a beta of 1.28. MakeMyTrip has a 1 year low of $36.81 and a 1 year high of $110.49. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.10. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, research analysts anticipate that MakeMyTrip will post 1.27 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors and hedge funds have recently modified their holdings of MMYT. Harbour Capital Advisors LLC increased its holdings in shares of MakeMyTrip by 0.9% in the 3rd quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company's stock worth $2,008,000 after purchasing an additional 175 shares in the last quarter. Thornburg Investment Management Inc. grew its stake in MakeMyTrip by 0.8% during the second quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company's stock valued at $2,100,000 after acquiring an additional 204 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of MakeMyTrip by 44.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company's stock worth $65,000 after buying an additional 236 shares in the last quarter. Park Place Capital Corp bought a new position in MakeMyTrip during the third quarter valued at $25,000. Finally, Bank of New York Mellon Corp raised 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 worth $2,583,000 after purchasing an additional 324 shares during the period. 51.89% of the stock is currently owned by institutional investors.

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.