MakeMyTrip Limited (NASDAQ:MMYT – Get Free Report) shares fell 8.2% during mid-day trading on Tuesday . The stock traded as low as $42.08 and last traded at $41.2530. 227,313 shares traded hands during trading, a decline of 86% from the average session volume of 1,658,394 shares. The stock had previously closed at $44.93.
Analysts Set New Price Targets
Several brokerages recently issued reports on MMYT. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. The Goldman Sachs Group reissued a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Finally, Citigroup decreased their target price on MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.00.
Read Our Latest Report on MakeMyTrip
MakeMyTrip Price Performance
Institutional Trading of MakeMyTrip
A number of large investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its stake in MakeMyTrip by 13.8% in the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after acquiring an additional 869,728 shares during the last quarter. Baillie Gifford & Co. increased its stake in MakeMyTrip by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 5,155,036 shares of the technology company’s stock worth $423,332,000 after acquiring an additional 114,975 shares during the last quarter. Royal Bank of Canada increased its stake in MakeMyTrip by 53.8% in the 1st quarter. Royal Bank of Canada now owns 3,498,642 shares of the technology company’s stock worth $130,464,000 after acquiring an additional 1,223,963 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in MakeMyTrip by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after acquiring an additional 371,066 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in MakeMyTrip by 64.2% in the 1st quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock worth $87,249,000 after acquiring an additional 914,402 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.
About MakeMyTrip
MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.
Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.
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