Analysts React as MakeMyTrip’s Share Price Surpasses Target Price
In recent trading, shares of MakeMyTrip Ltd. (Symbol: MMYT) have exceeded the average analyst 12-month target price of $105.28, currently trading at $107.02 per share. When a stock reaches an analyst’s target, the usual responses are to either downgrade the stock due to valuation concerns or to raise the target price based on positive developments. Analysts’ reactions often hinge on the fundamental business factors driving the stock’s upward movement; a positive outlook might warrant an increase in that target price.
Within the Zacks coverage universe, there are seven distinct analyst targets contributing to the average price for MakeMyTrip Ltd. While the average stands at $105.28, it is important to note that individual targets vary significantly. Some analysts have set targets lower than this average, with one expecting a price of $74.00, while another predicts a potential high of $120.00. The standard deviation among these targets is $18.481, indicating the range of opinions among analysts.
The rationale for examining the average price target involves a “wisdom of crowds” concept—an aggregate of individual perspectives rather than a singular expert opinion. With MMYT currently trading above the average target price, it prompts investors to assess the company’s future: is the $105.28 target merely a pause before reaching even higher prices, or has the stock’s valuation become overextended, leading to consideration of profit-taking? Below is a table detailing the current analyst ratings for MakeMyTrip Ltd.:
| Recent MMYT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 5 | 5 | 5 | 5 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.36 | 1.36 | 1.36 | 1.36 |
The average rating in the table above ranges from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. This article includes data provided by Zacks Investment Research through Quandl.com. To find the latest Zacks research report on MMYT, click here.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
