Citigroup Issues Pessimistic Forecast for MakeMyTrip (NASDAQ:MMYT) Stock Price

MakeMyTrip (NASDAQ:MMYT - Get Free Report) had its target price lowered by stock analysts at Citigroup from $125.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Citigroup's price objective suggests a potential upside of 17.16% from the stock's current price.

Several other research firms also recently commented on MMYT. Macquarie raised MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Tuesday, June 24th. Wall Street Zen raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th.

MakeMyTrip Stock Up 0.8%

MMYT stock traded up $0.80 during mid-day trading on Wednesday, reaching $102.42. The company had a trading volume of 141,527 shares, compared to its average volume of 1,049,838. The company has a debt-to-equity ratio of 18.35, a current ratio of 1.15 and a quick ratio of 1.85. The stock has a 50 day simple moving average of $98.03 and a two-hundred day simple moving average of $100.84. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 119.09 and a beta of 0.85. MakeMyTrip has a 52 week low of $76.95 and a 52 week high of $123.00.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently added to or reduced their stakes in MMYT. Vanguard Personalized Indexing Management LLC lifted its position in MakeMyTrip by 54.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,486 shares of the technology company's stock worth $1,420,000 after acquiring an additional 5,098 shares during the last quarter. Aberdeen Group plc lifted its holdings in MakeMyTrip by 54.3% during the 2nd quarter. Aberdeen Group plc now owns 5,389 shares of the technology company's stock worth $528,000 after purchasing an additional 1,897 shares during the last quarter. IFP Advisors Inc lifted its holdings in MakeMyTrip by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 9,239 shares of the technology company's stock worth $906,000 after purchasing an additional 266 shares during the last quarter. US Bancorp DE lifted its holdings in MakeMyTrip by 14.9% during the 2nd quarter. US Bancorp DE now owns 7,071 shares of the technology company's stock worth $693,000 after purchasing an additional 919 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its holdings in MakeMyTrip by 54.6% during the 2nd quarter. Triasima Portfolio Management inc. now owns 37,769 shares of the technology company's stock worth $3,702,000 after purchasing an additional 13,346 shares during the last quarter. 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.