MakeMyTrip (NASDAQ:MMYT) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded MakeMyTrip (NASDAQ:MMYT) from a "sell" to a "hold" rating in their latest research report.
• Citigroup has reduced its target price for MMYT from $125.00 to $120.00 while maintaining a "buy" rating, whereas Macquarie upgraded the stock to "outperform" with a target of $110.00.
• Shares of MakeMyTrip are currently trading down by 2.9%, with a 52-week range between $81.84 and $123.00.

MakeMyTrip (NASDAQ:MMYT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently commented on MMYT. Macquarie upgraded shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Tuesday, June 24th. Citigroup decreased their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $120.00.

MakeMyTrip Price Performance

Shares of MakeMyTrip stock traded up $2.28 on Friday, hitting $99.28. 873,546 shares of the company traded hands, compared to its average volume of 777,400. The firm's 50-day simple moving average is $97.68 and its 200 day simple moving average is $98.73. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. The company has a market cap of $11.05 billion, a P/E ratio of 115.44 and a beta of 0.87. MakeMyTrip has a 12-month low of $81.84 and a 12-month high of $123.00.

Institutional Investors Weigh In On MakeMyTrip

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its stake in shares of MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company's stock valued at $199,000 after purchasing an additional 188 shares in the last quarter. Signaturefd LLC boosted its stake in shares of MakeMyTrip by 23.3% during the 2nd quarter. Signaturefd LLC now owns 1,147 shares of the technology company's stock valued at $112,000 after purchasing an additional 217 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of MakeMyTrip by 5.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,638 shares of the technology company's stock valued at $454,000 after purchasing an additional 241 shares in the last quarter. Atria Investments Inc boosted its stake in shares of MakeMyTrip by 5.8% during the 2nd quarter. Atria Investments Inc now owns 4,705 shares of the technology company's stock valued at $461,000 after purchasing an additional 256 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of MakeMyTrip by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 9,239 shares of the technology company's stock valued at $906,000 after purchasing an additional 266 shares in the last quarter. Institutional investors 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.