MMYT Should I Buy
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MakeMyTrip Ltd is not a strong buy at the moment for a beginner investor with a long-term focus. While the stock is trading at a relatively inexpensive valuation and has a medium-term growth outlook, there are no immediate catalysts for a rally, and recent financial performance has been weak. The technical indicators are neutral, and there are no strong trading signals or significant positive sentiment from options data or news. Holding the stock or waiting for further clarity on its growth trajectory and financial recovery may be a better approach.
The MACD histogram is positive at 1.005, indicating bullish momentum, but it is contracting. RSI is neutral at 48.786, showing no clear overbought or oversold conditions. Moving averages are converging, suggesting indecision in price movement. Key support is at 41.533, and resistance is at 50.262. Overall, the technical indicators suggest a neutral trend.
The stock is considered inexpensive by analysts, and its medium-term growth outlook remains intact despite recent challenges.
Recent financial performance shows a significant decline in net income (-73.18% YoY) and EPS (-69.57% YoY). Analysts have lowered price targets, citing a tough fiscal backdrop and travel impacts from geopolitical events. No recent news or significant trading activity from insiders or hedge funds. Options data shows a bearish sentiment with a high put-call volume ratio of 1.25.
In Q3 2026, revenue increased by 10.59% YoY to $295.69M, but net income dropped by 73.18% YoY to $7.25M. EPS fell by 69.57% YoY to $0.07, and gross margin slightly declined to 67.93%. Overall, financial performance indicates growth in revenue but significant pressure on profitability.
Analysts maintain a Buy rating but have lowered price targets significantly (Citi: $80 from $96, BofA: $60 from $105). Analysts view the stock as inexpensive but highlight a tough fiscal environment and lack of near-term catalysts. Goldman Sachs removed the stock from its APAC Conviction List.
