MakeMyTrip (NASDAQ:MMYT) Shares Up 3.8%

MakeMyTrip Limited (NASDAQ:MMYT)’s share price shot up 3.8% during mid-day trading on Tuesday . The stock traded as high as $97.50 and last traded at $97.37. 87,015 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 737,167 shares. The stock had previously closed at $93.82.

Wall Street Analyst Weigh In

MMYT has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America lifted their price target on MakeMyTrip from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

MakeMyTrip Stock Performance

The firm’s 50 day simple moving average is $92.38 and its 200-day simple moving average is $79.35. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 59.79, a P/E/G ratio of 4.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The firm had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. Analysts expect that MakeMyTrip Limited will post 1.38 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several large investors have recently made changes to their positions in the company. Thornburg Investment Management Inc. increased its stake in shares of MakeMyTrip by 0.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock worth $2,100,000 after purchasing an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in MakeMyTrip by 44.1% during the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock valued at $65,000 after buying an additional 236 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of MakeMyTrip by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 30,712 shares of the technology company’s stock worth $2,583,000 after buying an additional 324 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of MakeMyTrip during the 2nd quarter worth about $59,000. Finally, Van ECK Associates Corp increased its holdings in shares of MakeMyTrip by 5.9% during the 2nd quarter. Van ECK Associates Corp now owns 14,163 shares of the technology company’s stock valued at $1,191,000 after acquiring an additional 791 shares during the last quarter. Institutional investors 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.