Analysts Set MakeMyTrip Limited (MMYT) Price Target at $27.20

MakeMyTrip Limited (NASDAQ:MMYT) has received an average recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.20.

MMYT has been the subject of several recent research reports. Bank of America lowered shares of MakeMyTrip from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $32.00 to $25.00 in a research report on Tuesday, April 30th. BidaskClub raised shares of MakeMyTrip from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Zacks Investment Research raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. ValuEngine raised shares of MakeMyTrip from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, TheStreet raised shares of MakeMyTrip from a “d-” rating to a “c-” rating in a report on Monday, January 28th.

A number of institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. raised its stake in MakeMyTrip by 37.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,514 shares of the technology company’s stock worth $97,000 after purchasing an additional 962 shares in the last quarter. US Bancorp DE raised its stake in MakeMyTrip by 13.4% in the 1st quarter. US Bancorp DE now owns 4,225 shares of the technology company’s stock worth $117,000 after purchasing an additional 499 shares in the last quarter. Thornburg Investment Management Inc. acquired a new stake in MakeMyTrip in the 4th quarter worth about $112,000. BlackRock Inc. raised its stake in MakeMyTrip by 20.5% in the 4th quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock worth $121,000 after purchasing an additional 847 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in MakeMyTrip by 440.2% in the 1st quarter. Wells Fargo & Company MN now owns 5,067 shares of the technology company’s stock worth $140,000 after purchasing an additional 4,129 shares in the last quarter. Institutional investors and hedge funds own 46.06% of the company’s stock.

NASDAQ:MMYT traded up $1.28 during mid-day trading on Monday, hitting $24.73. The company’s stock had a trading volume of 5,010 shares, compared to its average volume of 312,257. MakeMyTrip has a fifty-two week low of $19.66 and a fifty-two week high of $41.70. The firm has a market capitalization of $2.52 billion, a PE ratio of -11.45 and a beta of 0.42.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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