MakeMyTrip faces analyst downgrade amid high options volatility
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2025
0mins
Source: NASDAQ.COM
MakeMyTrip Ltd's stock rose by 5.21% as it crossed above the 20-day SMA, reflecting a positive price movement in the context of a strong market. However, the company is currently facing challenges, including a Zacks Rank of #5 (Strong Sell) and a downward revision of earnings estimates from $52 to $10 per share, indicating a significant decline in profitability expectations. This negative outlook from analysts, combined with high implied volatility in the options market, suggests uncertainty regarding MakeMyTrip's future performance.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy MMYT?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on MMYT
Wall Street analysts forecast MMYT stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 45.450
Low
113.00
Averages
118.00
High
123.00
Current: 45.450
Low
113.00
Averages
118.00
High
123.00
About MMYT
MakeMyTrip Limited is an online travel provider. The Company's segments include Air Ticketing, Hotels and Packages, and Bus Ticketing. The Air ticketing segment provides the facility to book domestic and international air tickets through Internet-based platforms. The Hotels and packages segment provides holiday packages and hotel reservations through Internet-based platforms, call centers, and franchise stores. The Bus ticketing segment provides the facility to book domestic and international bus tickets through Internet-based platforms. Through its primary websites, such as www.makemytrip.com, www.goibibo.com, and www.redbus.in, and mobile platforms, travelers can research, plan and book a range of travel services and products in India, as well as overseas. The Company's services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements. It also provides an inter-city car rental service.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Analysis of MakeMyTrip Stock Options Market Volatility
- Options Market Volatility: The June 18, 2026, $95 Call for MakeMyTrip shows high implied volatility, indicating that the market expects significant future price movements, which may suggest an upcoming event that could impact stock performance.
- Analyst Rating Decline: Currently, MakeMyTrip holds a Zacks Rank of #5 (Strong Sell) in the Internet - Delivery Services sector, placing it in the bottom 9% of the industry rankings, reflecting a pessimistic outlook from the market regarding its future performance.
- Earnings Estimate Adjustments: Over the past 30 days, no analysts have raised their earnings estimates for MakeMyTrip's current quarter, while one analyst has revised the estimate downward, resulting in a drop in the Zacks Consensus Estimate from $52 per share to $10, indicating a significant decline in profitability expectations.
- Trading Strategy Implications: The high implied volatility may attract options traders to employ a strategy of selling options to capture decay, although this also reflects the market's uncertainty regarding MakeMyTrip's future price movements.
See More
MakeMyTrip Reports Decline in Q4 Profit Amid Revenue Growth
- Revenue Growth: MakeMyTrip reported a revenue increase to $250.1 million for Q4 2026, up from $245.5 million year-over-year, indicating the company's adaptability in the recovering travel demand landscape.
- Net Income Decline: Despite revenue growth, net income fell to $24.2 million from $29.2 million a year earlier, reflecting the adverse impact of rising finance costs on profitability, which may affect investor confidence moving forward.
- Full-Year Performance: For the fiscal year 2026, total revenue reached $1.04 billion, up from $978.3 million, yet net income decreased from $95.1 million to $51.8 million, highlighting profitability pressures amid expansion efforts.
- Stock Price Volatility: MMYT is currently trading at $39.47, down $5.46 or 12.15%, indicating market concerns regarding the company's financial performance, which could impact its future financing capabilities.
See More
MakeMyTrip (MMYT) Q4 2026 Earnings Transcript
See More
MakeMyTrip Q4 Earnings Miss Expectations
- Disappointing Earnings: MakeMyTrip reported a Q4 Non-GAAP EPS of $0.32, missing expectations by $0.09, indicating pressure on profitability that may affect investor confidence.
- Revenue Shortfall: The revenue for the quarter was $250.12 million, a 1.9% year-over-year increase, but fell short of market expectations by $25.37 million, reflecting challenges from intensified market competition and weak consumer demand.
- Gross Bookings Growth: Despite the revenue miss, gross bookings increased by 4.8% year-over-year in Q4 to $2,550.5 million, demonstrating some resilience in the market that could lay the groundwork for future growth.
- Adjusted Margin Improvement: Adjusted margins across business lines saw growth, with air ticketing margins increasing by 10.7% year-over-year to $99.3 million, indicating positive progress in cost optimization and service quality enhancement.
See More
MakeMyTrip to Report Q4 and Full Year Results on May 19, 2026
- Earnings Release Schedule: MakeMyTrip plans to report its fiscal 2026 fourth quarter and full year financial and operating results before markets open on May 19, 2026, reflecting the company's commitment to transparency and investor communication.
- Webinar Timing: The company will host a live Zoom webinar with its senior management team on May 19, 2026, at 7:30 am EDT (5:00 pm IST), aimed at directly engaging with investors and addressing their queries.
- Registration and Replay: Participants must register via the company's Investor Relations website, receiving a confirmation email, and a replay will be available approximately two hours after the live event, ensuring broad dissemination of information.
- Company Background: MakeMyTrip operates well-recognized online travel brands including MakeMyTrip, Goibibo, and redBus, offering a comprehensive range of travel services such as air ticketing, hotel bookings, and holiday planning, showcasing its robust business capabilities in both Indian and international markets.
See More
MakeMyTrip Shares Drop 2.4% Amid New Short Call
- Increased Short Interest: Morpheus Research's announcement of a short position in MakeMyTrip (MMYT) has led to a 2.4% drop in its stock price, indicating growing market concerns about the company's future performance, which could undermine investor confidence.
- Significant Short Interest: With short interest at 9.2%, there is a heightened expectation of downward pressure on MakeMyTrip's stock, prompting investors to reassess their holding strategies in light of potential risks.
- Financial Strain Evident: Although MakeMyTrip reported a non-GAAP EPS of $0.52, beating estimates by $0.10, its revenue of $295.69 million fell short by $10.4 million, highlighting the detrimental impact of high finance costs and tax liabilities on profitability.
- Lackluster Market Response: MakeMyTrip's failure to respond to Seeking Alpha's request for comments may raise questions about its transparency and communication capabilities, potentially affecting investor trust and future stock performance.
See More
Analysis of MakeMyTrip Stock Options Market Volatility
- Options Market Volatility: The June 18, 2026, $95 Call for MakeMyTrip shows high implied volatility, indicating that the market expects significant future price movements, which may suggest an upcoming event that could impact stock performance.
- Analyst Rating Decline: Currently, MakeMyTrip holds a Zacks Rank of #5 (Strong Sell) in the Internet - Delivery Services sector, placing it in the bottom 9% of the industry rankings, reflecting a pessimistic outlook from the market regarding its future performance.
- Earnings Estimate Adjustments: Over the past 30 days, no analysts have raised their earnings estimates for MakeMyTrip's current quarter, while one analyst has revised the estimate downward, resulting in a drop in the Zacks Consensus Estimate from $52 per share to $10, indicating a significant decline in profitability expectations.
- Trading Strategy Implications: The high implied volatility may attract options traders to employ a strategy of selling options to capture decay, although this also reflects the market's uncertainty regarding MakeMyTrip's future price movements.
See More
MakeMyTrip Reports Decline in Q4 Profit Amid Revenue Growth
- Revenue Growth: MakeMyTrip reported a revenue increase to $250.1 million for Q4 2026, up from $245.5 million year-over-year, indicating the company's adaptability in the recovering travel demand landscape.
- Net Income Decline: Despite revenue growth, net income fell to $24.2 million from $29.2 million a year earlier, reflecting the adverse impact of rising finance costs on profitability, which may affect investor confidence moving forward.
- Full-Year Performance: For the fiscal year 2026, total revenue reached $1.04 billion, up from $978.3 million, yet net income decreased from $95.1 million to $51.8 million, highlighting profitability pressures amid expansion efforts.
- Stock Price Volatility: MMYT is currently trading at $39.47, down $5.46 or 12.15%, indicating market concerns regarding the company's financial performance, which could impact its future financing capabilities.
See More
MakeMyTrip (MMYT) Q4 2026 Earnings Transcript
See More
MakeMyTrip Q4 Earnings Miss Expectations
- Disappointing Earnings: MakeMyTrip reported a Q4 Non-GAAP EPS of $0.32, missing expectations by $0.09, indicating pressure on profitability that may affect investor confidence.
- Revenue Shortfall: The revenue for the quarter was $250.12 million, a 1.9% year-over-year increase, but fell short of market expectations by $25.37 million, reflecting challenges from intensified market competition and weak consumer demand.
- Gross Bookings Growth: Despite the revenue miss, gross bookings increased by 4.8% year-over-year in Q4 to $2,550.5 million, demonstrating some resilience in the market that could lay the groundwork for future growth.
- Adjusted Margin Improvement: Adjusted margins across business lines saw growth, with air ticketing margins increasing by 10.7% year-over-year to $99.3 million, indicating positive progress in cost optimization and service quality enhancement.
See More
MakeMyTrip to Report Q4 and Full Year Results on May 19, 2026
- Earnings Release Schedule: MakeMyTrip plans to report its fiscal 2026 fourth quarter and full year financial and operating results before markets open on May 19, 2026, reflecting the company's commitment to transparency and investor communication.
- Webinar Timing: The company will host a live Zoom webinar with its senior management team on May 19, 2026, at 7:30 am EDT (5:00 pm IST), aimed at directly engaging with investors and addressing their queries.
- Registration and Replay: Participants must register via the company's Investor Relations website, receiving a confirmation email, and a replay will be available approximately two hours after the live event, ensuring broad dissemination of information.
- Company Background: MakeMyTrip operates well-recognized online travel brands including MakeMyTrip, Goibibo, and redBus, offering a comprehensive range of travel services such as air ticketing, hotel bookings, and holiday planning, showcasing its robust business capabilities in both Indian and international markets.
See More
MakeMyTrip Shares Drop 2.4% Amid New Short Call
- Increased Short Interest: Morpheus Research's announcement of a short position in MakeMyTrip (MMYT) has led to a 2.4% drop in its stock price, indicating growing market concerns about the company's future performance, which could undermine investor confidence.
- Significant Short Interest: With short interest at 9.2%, there is a heightened expectation of downward pressure on MakeMyTrip's stock, prompting investors to reassess their holding strategies in light of potential risks.
- Financial Strain Evident: Although MakeMyTrip reported a non-GAAP EPS of $0.52, beating estimates by $0.10, its revenue of $295.69 million fell short by $10.4 million, highlighting the detrimental impact of high finance costs and tax liabilities on profitability.
- Lackluster Market Response: MakeMyTrip's failure to respond to Seeking Alpha's request for comments may raise questions about its transparency and communication capabilities, potentially affecting investor trust and future stock performance.
See More
