MakeMyTrip (NASDAQ:MMYT) Sets New 1-Year High – Here’s Why

MakeMyTrip Limited (NASDAQ:MMYT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $123.00 and last traded at $121.81, with a volume of 258518 shares trading hands. The stock had previously closed at $115.04.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MMYT. Bank of America lifted their price target on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

MakeMyTrip Trading Up 1.6 %

The company has a market capitalization of $12.84 billion, a P/E ratio of 62.86, a PEG ratio of 6.77 and a beta of 1.27. The business has a 50 day moving average price of $104.86 and a 200 day moving average price of $95.31. 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 issued its earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. The firm had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently modified their holdings of the business. Park Place Capital Corp bought a new stake in MakeMyTrip during the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. raised its holdings in shares of MakeMyTrip by 100.9% during the third quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock worth $42,000 after acquiring an additional 225 shares during the period. Fifth Third Bancorp bought a new stake in MakeMyTrip in the 2nd quarter valued at $59,000. EverSource Wealth Advisors LLC boosted its stake in MakeMyTrip by 44.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock worth $65,000 after purchasing an additional 236 shares during the period. Finally, nVerses Capital LLC acquired a new position in MakeMyTrip in the 2nd quarter worth $143,000. Institutional investors and hedge funds 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.