MakeMyTrip (NASDAQ:MMYT) Given New $130.00 Price Target at Bank of America

MakeMyTrip (NASDAQ:MMYT) had its target price upped by Bank of America from $119.00 to $130.00 in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.

Separately, StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $114.53 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $12.57 billion, a P/E ratio of 62.58, a P/E/G ratio of 6.59 and a beta of 1.27. MakeMyTrip has a 12 month low of $43.31 and a 12 month high of $123.00. The business’s 50-day moving average is $109.60 and its 200 day moving average is $98.70.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities research analysts forecast that MakeMyTrip will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently modified their holdings of the business. FMR LLC grew its position in shares of 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 buying an additional 1,230,916 shares during the last quarter. Jennison Associates LLC increased its stake in shares of MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after acquiring an additional 1,710,773 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of MakeMyTrip by 54.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after buying an additional 387,695 shares during the period. Marshall Wace LLP boosted its position in MakeMyTrip by 129.2% in the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after purchasing an additional 539,067 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after buying an additional 107,814 shares during the period. 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.