MakeMyTrip (NASDAQ:MMYT) Stock Rating Upgraded by Macquarie

Macquarie upgraded shares of MakeMyTrip (NASDAQ:MMYT - Free Report) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has $110.00 price target on the technology company's stock.

A number of other brokerages have also issued reports on MMYT. Citigroup increased their price target on MakeMyTrip from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th.

MakeMyTrip Stock Performance

Shares of NASDAQ MMYT traded up $4.48 during midday trading on Tuesday, hitting $95.99. 2,482,282 shares of the company's stock traded hands, compared to its average volume of 800,375. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. MakeMyTrip has a 1 year low of $76.95 and a 1 year high of $123.00. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 115.65 and a beta of 0.88. The firm has a fifty day moving average of $102.35 and a 200 day moving average of $103.77.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MakeMyTrip by 9,724.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,132,381 shares of the technology company's stock valued at $2,364,732,000 after purchasing an additional 23,886,735 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of MakeMyTrip by 40.0% in the 1st quarter. Baillie Gifford & Co. now owns 5,155,202 shares of the technology company's stock worth $505,158,000 after buying an additional 1,471,660 shares in the last quarter. New Vernon Capital Holdings II LLC increased its holdings in shares of MakeMyTrip by 9,699.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 5,143,299 shares of the technology company's stock worth $503,992,000 after buying an additional 5,090,811 shares during the last quarter. Schroder Investment Management Group raised its position in shares of MakeMyTrip by 3.6% during the 4th quarter. Schroder Investment Management Group now owns 4,118,898 shares of the technology company's stock valued at $462,470,000 after buying an additional 141,507 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of MakeMyTrip by 4.3% in the 4th quarter. FMR LLC now owns 3,793,574 shares of the technology company's stock valued at $425,942,000 after acquiring an additional 158,101 shares during the last quarter. Institutional investors 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.