MakeMyTrip (NASDAQ:MMYT) Stock Price Passes Above Two Hundred Day Moving Average of $51.40

MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.40 and traded as high as $63.54. MakeMyTrip shares last traded at $61.22, with a volume of 821,738 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MMYT. StockNews.com raised shares of MakeMyTrip from a "sell" rating to a "hold" rating in a research report on Wednesday, January 24th. Macquarie downgraded shares of MakeMyTrip from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from $50.00 to $60.00 in a research report on Wednesday, February 21st.

MakeMyTrip Stock Down 0.5 %

The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02. The stock's 50-day simple moving average is $64.12 and its 200-day simple moving average is $51.40. The firm has a market capitalization of $6.46 billion, a P/E ratio of 133.09 and a beta of 1.23.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.05. MakeMyTrip had a net margin of 6.93% and a return on equity of 10.13%. The business had revenue of $214.22 million during the quarter, compared to the consensus estimate of $210.01 million. As a group, research analysts predict that MakeMyTrip Limited will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its position in MakeMyTrip by 20.8% in the 1st quarter. Belpointe Asset Management LLC now owns 2,416 shares of the technology company's stock worth $59,000 after purchasing an additional 416 shares in the last quarter. Harbour Capital Advisors LLC grew its position in shares of MakeMyTrip by 2.6% during the 4th quarter. Harbour Capital Advisors LLC now owns 17,845 shares of the technology company's stock valued at $824,000 after acquiring an additional 447 shares during the period. Sei Investments Co. grew its position in shares of MakeMyTrip by 3.1% during the 2nd quarter. Sei Investments Co. now owns 14,961 shares of the technology company's stock valued at $392,000 after acquiring an additional 450 shares during the period. Credit Suisse AG grew its position in shares of MakeMyTrip by 3.6% during the 3rd quarter. Credit Suisse AG now owns 19,429 shares of the technology company's stock valued at $596,000 after acquiring an additional 672 shares during the period. Finally, Liontrust Investment Partners LLP grew its position in shares of MakeMyTrip by 2.3% during the 3rd quarter. Liontrust Investment Partners LLP now owns 30,509 shares of the technology company's stock valued at $1,236,000 after acquiring an additional 695 shares during the period. 51.89% of the stock is owned by institutional investors.

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.