Citigroup Raises MakeMyTrip (NASDAQ:MMYT) Price Target to $43.00

MakeMyTrip (NASDAQ:MMYTGet Rating) had its price target hoisted by Citigroup from $42.00 to $43.00 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price objective would suggest a potential upside of 65.83% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Thursday. StockNews.com upgraded shares of MakeMyTrip to a “sell” rating in a research note on Friday, May 6th. Finally, Morgan Stanley initiated coverage on shares of MakeMyTrip in a research note on Thursday, February 24th. They set an “equal weight” rating and a $29.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MakeMyTrip presently has an average rating of “Hold” and an average target price of $33.00.

MMYT stock opened at $25.93 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 2.72. The company’s 50-day simple moving average is $25.42 and its 200 day simple moving average is $26.56. MakeMyTrip has a 52 week low of $20.06 and a 52 week high of $36.28. The company has a market capitalization of $2.72 billion, a PE ratio of -76.26 and a beta of 1.25.

Several hedge funds have recently bought and sold shares of MMYT. Exchange Traded Concepts LLC boosted its position in MakeMyTrip by 49.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,587 shares of the technology company’s stock worth $44,000 after buying an additional 524 shares during the period. Barclays PLC lifted its holdings in shares of MakeMyTrip by 1,197.4% during the third quarter. Barclays PLC now owns 5,916 shares of the technology company’s stock worth $161,000 after purchasing an additional 5,460 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of MakeMyTrip in the fourth quarter worth $218,000. Cubist Systematic Strategies LLC bought a new stake in shares of MakeMyTrip in the fourth quarter worth $227,000. Finally, Susquehanna International Group LLP grew its stake in shares of MakeMyTrip by 327.3% in the fourth quarter. Susquehanna International Group LLP now owns 8,252 shares of the technology company’s stock worth $229,000 after purchasing an additional 11,883 shares during the last quarter. 42.91% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile (Get Rating)

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, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance.

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