MakeMyTrip (NASDAQ:MMYT) Trading 3.4% Higher – Should You Buy?

MakeMyTrip Limited (NASDAQ:MMYT) shot up 3.4% on Monday . The stock traded as high as $103.60 and last traded at $101.20. 215,137 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 792,454 shares. The stock had previously closed at $97.87.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MMYT shares. StockNews.com cut MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Bank of America raised their price objective on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, December 27th.

MakeMyTrip Stock Performance

The firm has a market capitalization of $11.13 billion, a PE ratio of 55.08, a PEG ratio of 6.56 and a beta of 1.28. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $109.86 and a 200 day moving average of $105.19.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings data on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.46% and a net margin of 25.42%. Equities research analysts predict that MakeMyTrip Limited will post 1.27 EPS for the current year.

Institutional Trading of MakeMyTrip

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in MakeMyTrip by 44.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,062 shares of the technology company’s stock valued at $23,708,000 after purchasing an additional 78,745 shares during the period. Van ECK Associates Corp raised its position in shares of MakeMyTrip by 17.8% in the 3rd quarter. Van ECK Associates Corp now owns 16,677 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 2,514 shares during the last quarter. Ground Swell Capital LLC bought a new position in shares of MakeMyTrip in the third quarter worth approximately $232,000. Asset Management One Co. Ltd. purchased a new stake in shares of MakeMyTrip during the third quarter valued at approximately $9,388,000. Finally, GSA Capital Partners LLP bought a new stake in shares of MakeMyTrip during the third quarter valued at approximately $674,000. 51.89% of the stock is currently owned by hedge funds and other 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.