MakeMyTrip (MMYT) Given a $24.00 Price Target by Bank of America Analysts

Bank of America set a $24.00 price objective on MakeMyTrip (NASDAQ:MMYT) in a report released on Monday morning, TipRanks reports. The firm currently has a sell rating on the technology company’s stock.

Several other brokerages have also recently commented on MMYT. ValuEngine upgraded shares of MakeMyTrip from a hold rating to a buy rating in a research report on Wednesday, March 6th. Zacks Investment Research upgraded shares of MakeMyTrip from a sell rating to a hold rating in a research report on Tuesday, March 12th. Finally, BidaskClub cut shares of MakeMyTrip from a buy rating to a hold rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $27.36.

Shares of MakeMyTrip stock opened at $23.50 on Monday. MakeMyTrip has a twelve month low of $19.66 and a twelve month high of $41.70.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Thursday, May 16th. The technology company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.02. The company had revenue of $163.35 million during the quarter, compared to analysts’ expectations of $158.28 million. MakeMyTrip had a negative net margin of 34.52% and a negative return on equity of 11.02%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.25) EPS. As a group, equities analysts expect that MakeMyTrip will post -1.03 EPS for the current fiscal year.

Several large investors have recently modified their holdings of MMYT. FIL Ltd raised its position in shares of MakeMyTrip by 98.9% in the 1st quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock valued at $71,754,000 after buying an additional 1,292,622 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of MakeMyTrip by 30.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,167,590 shares of the technology company’s stock valued at $77,067,000 after purchasing an additional 746,010 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of MakeMyTrip by 24.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,222,819 shares of the technology company’s stock valued at $78,411,000 after purchasing an additional 635,000 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of MakeMyTrip by 39.7% during the 4th quarter. Brown Advisory Inc. now owns 2,008,442 shares of the technology company’s stock valued at $48,865,000 after purchasing an additional 571,115 shares during the last quarter. Finally, GMT Capital Corp grew its holdings in shares of MakeMyTrip by 49.5% during the 1st quarter. GMT Capital Corp now owns 907,376 shares of the technology company’s stock valued at $25,044,000 after purchasing an additional 300,453 shares during the last quarter. Institutional investors own 46.06% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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