MakeMyTrip (NASDAQ:MMYT) Stock Passes Above 200 Day Moving Average – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $98.23 and traded as high as $117.06. MakeMyTrip shares last traded at $114.17, with a volume of 173,066 shares traded.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Bank of America raised their price target on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th.

MakeMyTrip Stock Down 1.3 %

The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 6.59 and a beta of 1.27. The stock has a 50 day simple moving average of $108.87 and a 200 day simple moving average of $98.23. 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) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The business had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. During the same quarter last year, the firm posted $0.18 EPS. As a group, analysts expect that MakeMyTrip Limited will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Capital Advisors LLC boosted its stake in MakeMyTrip by 0.9% during the 3rd quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company’s stock valued at $2,008,000 after purchasing an additional 175 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in shares of 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 buying an additional 204 shares during the last quarter. Caprock Group LLC grew its holdings in MakeMyTrip by 6.4% during the third quarter. Caprock Group LLC now owns 3,726 shares of the technology company’s stock worth $346,000 after buying an additional 224 shares in the last quarter. Advisors Asset Management Inc. raised its position in MakeMyTrip by 100.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after buying an additional 225 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in MakeMyTrip by 44.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock valued at $65,000 after acquiring an additional 236 shares in the last quarter. 51.89% of the stock is 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.