MakeMyTrip Limited (NASDAQ:MMYT) Given Average Rating of "Moderate Buy" by Brokerages

Shares of MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $86.75.

MMYT has been the topic of several recent research reports. The Goldman Sachs Group set a $84.00 target price on shares of MakeMyTrip in a report on Saturday, June 27th. Zacks Research downgraded shares of MakeMyTrip from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 18th. Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Citigroup reissued a "buy" rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Finally, HSBC assumed coverage on MakeMyTrip in a report on Thursday, July 2nd. They set a "buy" rating and a $70.00 target price for the company.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock opened at $55.62 on Monday. The firm has a market cap of $5.23 billion, a P/E ratio of 463.50 and a beta of 1.00. MakeMyTrip has a 12 month low of $32.67 and a 12 month high of $103.24. The stock's fifty day moving average price is $57.58 and its 200-day moving average price is $50.15.

Hedge Funds Weigh In On MakeMyTrip

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in MakeMyTrip in the second quarter worth about $1,704,000. Flossbach Von Storch SE purchased a new position in shares of MakeMyTrip in the 2nd quarter worth approximately $2,664,000. Wasatch Advisors LP grew its position in shares of MakeMyTrip by 5.7% in the 2nd quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company's stock worth $131,811,000 after buying an additional 133,723 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of MakeMyTrip during the 2nd quarter worth approximately $249,000. Finally, Carmignac Gestion raised its stake in shares of MakeMyTrip by 38.4% during the 1st quarter. Carmignac Gestion now owns 30,428 shares of the technology company's stock worth $1,135,000 after acquiring an additional 8,435 shares in the last quarter. Hedge funds and other institutional investors own 51.89% of the company's stock.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company's offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India's leading travel technology firms.

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