MakeMyTrip (NASDAQ:MMYT) Reaches New 12-Month High – Here’s Why

Shares of MakeMyTrip Limited (NASDAQ:MMYT) reached a new 52-week high during trading on Tuesday . The company traded as high as $114.47 and last traded at $114.00, with a volume of 227195 shares traded. The stock had previously closed at $109.90.

Analysts Set New Price Targets

A number of brokerages have issued reports on MMYT. StockNews.com lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America raised their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

MakeMyTrip Price Performance

The firm has a market capitalization of $12.44 billion, a PE ratio of 60.05, a P/E/G ratio of 6.11 and a beta of 1.27. The firm’s fifty day moving average price is $102.38 and its 200 day moving average price is $92.86. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same period last year, the firm earned $0.18 EPS. As a group, equities analysts forecast that MakeMyTrip Limited will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On MakeMyTrip

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of MakeMyTrip by 85.7% during the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after buying an additional 1,879,726 shares in the last quarter. Jennison Associates LLC lifted its holdings in MakeMyTrip by 282.4% during the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares in the last quarter. FMR LLC grew its position in shares of MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares during the period. Marshall Wace LLP increased its stake in shares of MakeMyTrip by 129.2% during the second 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, Wasatch Advisors LP acquired a new position in shares of MakeMyTrip during the 3rd quarter worth about $44,521,000. Institutional investors and hedge funds 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.