MakeMyTrip (NASDAQ:MMYT) Stock Price Up 5.9% - Here's What Happened

MakeMyTrip Limited (NASDAQ:MMYT) saw its stock price increase by 5.9% during midday trading on Thursday. The shares reached a high of $109.30 before closing at $109.22. During this trading session, about 752,695 shares were exchanged, which is a 12% increase compared to the average daily trading volume of 674,861 shares. The stock had previously ended the day at $103.15.

Wall Street Analyst Insights

MakeMyTrip has been a focal point for various research analysts recently. Notably, StockNews.com downgraded their rating for MakeMyTrip from "hold" to "sell" in a report issued on November 20. In contrast, Bank of America raised their price target on MakeMyTrip from $119.00 to $130.00, affirming a "buy" recommendation in a report published on December 27.

Current Trading Performance

The company currently shows a debt-to-equity ratio of 0.19, a current ratio of 2.82, and a quick ratio of 2.81. Its fifty-day moving average stands at $111.56, while its 200-day moving average is at $102.16. MakeMyTrip holds a market capitalization of $12.01 billion, a price-to-earnings (PE) ratio of 59.80, and a price-to-earnings-growth (PEG) ratio of 5.36, with a beta of 1.29.

Recent Earnings Announcement

MakeMyTrip's latest quarterly earnings data was released on January 23, when the technology company reported earnings per share (EPS) of $0.32 for the quarter. This figure fell short of the analysts' consensus estimate of $0.44 by $0.12. The company achieved a return on equity of 11.54% with a net margin of 26.64%. Analysts forecast that MakeMyTrip will report an average of 1.29 EPS for the current fiscal year.

Institutional Investors' Activity

Institutional investors have been active in adjusting their positions in MakeMyTrip recently. For example, FMR LLC raised its stake in the company by 51.2% during the third quarter, acquiring an additional 1,230,916 shares to own a total of 3,635,473 shares valued at $337,917,000. Jennison Associates LLC also increased its holdings by 282.4% in the same period, bringing its total to 2,316,572 shares valued at $215,325,000 after purchasing 1,710,773 shares. Marshall Wace LLP grew its stake by 129.2%, acquiring 539,067 shares to own 956,172 shares valued at $80,414,000. The Manufacturers Life Insurance Company increased its position by 20.6%, through the addition of 107,814 shares, bringing its total to 632,062 shares worth $58,750,000. Janus Henderson Group PLC also increased its holding by 1.3%, now owning 508,607 shares worth $47,258,000. Currently, institutional investors hold 51.89% of the stock.

About MakeMyTrip

MakeMyTrip Limited is a prominent online travel company that provides a range of travel products and solutions in various countries, including India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company's operations are structured into three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.

Investment Consideration

Before making any investment in MakeMyTrip, it is advisable for investors to conduct thorough research. Although the stock currently holds a "Moderate Buy" rating among analysts, it is essential to consider other stocks with stronger recommendations from top-rated analysts.

MakeMyTrip, Investment, Stocks