MakeMyTrip (NASDAQ:MMYT) Share Price Crosses Above 200-Day Moving Average of $51.40

Shares of MakeMyTrip Limited (NASDAQ:MMYT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.40 and traded as high as $63.54. MakeMyTrip shares last traded at $61.22, with a volume of 821,738 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MMYT. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Macquarie cut MakeMyTrip from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $60.00 in a report on Wednesday, February 21st.

MakeMyTrip Stock Performance

The company has a market capitalization of $6.46 billion, a P/E ratio of 132.39 and a beta of 1.23. The stock has a fifty day simple moving average of $64.15 and a 200-day simple moving average of $51.54. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The company had revenue of $214.22 million during the quarter, compared to analysts’ expectations of $210.01 million. MakeMyTrip had a return on equity of 10.13% and a net margin of 6.93%. Equities analysts forecast that MakeMyTrip Limited will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of MakeMyTrip by 478.2% in the fourth quarter. SG Americas Securities LLC now owns 51,682 shares of the technology company’s stock valued at $2,428,000 after buying an additional 42,744 shares during the last quarter. Blue Trust Inc. increased its position in MakeMyTrip by 12.3% in the fourth quarter. Blue Trust Inc. now owns 7,055 shares of the technology company’s stock worth $331,000 after purchasing an additional 774 shares during the period. Artisan Partners Limited Partnership acquired a new stake in MakeMyTrip in the third quarter worth about $84,983,000. American Century Companies Inc. acquired a new stake in MakeMyTrip in the third quarter worth about $22,602,000. Finally, Dumac Inc. acquired a new stake in MakeMyTrip in the third quarter worth about $1,635,000. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Company Profile

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.