MMYT Should I Buy
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MakeMyTrip Ltd (MMYT) is not a strong buy at this moment for a beginner, long-term investor with $50,000-$100,000 available. While the stock has attractive valuations according to analysts and solid growth potential, the recent financial performance shows significant declines in net income and EPS, and technical indicators suggest a bearish trend. The lack of recent positive news, no strong trading signals, and mixed options sentiment further support a hold decision.
The MACD is positive and expanding, which is a bullish signal. However, the RSI is neutral at 42.441, and the moving averages are bearish (SMA_200 > SMA_20 > SMA_5). The stock is trading below its pivot level of 53.722, with key support at 49.91 and resistance at 57.535. Overall, the technical indicators suggest a bearish trend.
Analysts view the company's valuation as attractive at current levels, and the company has shown resilience compared to peers in challenging circumstances.
Significant declines in net income (-73.18% YoY) and EPS (-69.57% YoY) in the latest quarter. Gross margin also dropped slightly. No recent news or congress trading data to act as a positive catalyst. Mixed sentiment in options trading and bearish technical indicators.
In Q3 2026, revenue increased by 10.59% YoY to $295.69M. However, net income dropped by 73.18% YoY to $7.25M, and EPS fell by 69.57% YoY to $0.07. Gross margin slightly declined to 67.93% (-0.88% YoY).
Analysts have lowered price targets but maintain Buy or Overweight ratings. Citi reduced its target to $96 from $108, Morgan Stanley to $106 from $113, and BofA to $113 from $115. Analysts find the stock's valuation attractive but have moderated margin expansion expectations.
