MakeMyTrip (NASDAQ:MMYT – Get Free Report) had its price target upped by equities research analysts at Citigroup from $93.00 to $115.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 25.42% from the company’s previous close.
A number of other research firms also recently issued reports on MMYT. Bank of America boosted their price target on MakeMyTrip from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.67.
View Our Latest Stock Report on MakeMyTrip
MakeMyTrip Stock Performance
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last released its quarterly earnings results on Wednesday, May 15th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $202.89 million during the quarter, compared to the consensus estimate of $195.15 million. MakeMyTrip had a return on equity of 10.66% and a net margin of 27.70%. On average, equities analysts forecast that MakeMyTrip will post 0.96 EPS for the current fiscal year.
Institutional Investors Weigh In On MakeMyTrip
A number of institutional investors have recently added to or reduced their stakes in the stock. NewSquare Capital LLC purchased a new stake in MakeMyTrip during the 2nd quarter valued at approximately $4,859,000. Fifth Third Bancorp purchased a new stake in MakeMyTrip during the 2nd quarter valued at approximately $59,000. Blue Trust Inc. grew its holdings in MakeMyTrip by 44.0% during the 2nd quarter. Blue Trust Inc. now owns 9,702 shares of the technology company’s stock valued at $816,000 after buying an additional 2,963 shares in the last quarter. LA Financiere DE L Echiquier purchased a new stake in MakeMyTrip during the 2nd quarter valued at approximately $1,808,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in MakeMyTrip during the 2nd quarter valued at approximately $269,000. 51.89% of the stock is owned by hedge funds and other 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.
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