MakeMyTrip (NASDAQ:MMYT) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

MakeMyTrip Limited (NASDAQ:MMYT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $98.23 and traded as high as $117.06. MakeMyTrip shares last traded at $114.17, with a volume of 173,066 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MMYT shares. Bank of America upped their target price on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

MakeMyTrip Trading Up 1.8 %

The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $12.76 billion, a P/E ratio of 63.50, a price-to-earnings-growth ratio of 6.59 and a beta of 1.27. The firm’s 50-day simple moving average is $109.34 and its 200-day simple moving average is $98.46.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. The company had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same period in the previous year, the business earned $0.18 earnings per share. Analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current year.

Hedge Funds Weigh In On MakeMyTrip

Several institutional investors have recently modified their holdings of MMYT. FMR LLC grew its position in MakeMyTrip by 51.2% during the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after acquiring an additional 1,230,916 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of MakeMyTrip by 282.4% during the 3rd quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares during the last quarter. William Blair Investment Management LLC raised its position in MakeMyTrip by 54.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock worth $92,431,000 after purchasing an additional 387,695 shares during the period. Marshall Wace LLP lifted its stake in MakeMyTrip by 129.2% in the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after purchasing an additional 539,067 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in MakeMyTrip by 20.6% during the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after buying an additional 107,814 shares during the period. 51.89% of the stock is currently 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.