MMYT Should I Buy
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MakeMyTrip Ltd is not a strong buy for a beginner, long-term investor at the moment. While the stock has a relatively inexpensive valuation and a positive medium-term growth outlook, the lack of near-term catalysts, declining financial performance, and negative short-term stock trend make it prudent to hold rather than buy immediately.
The MACD is positive and expanding, indicating bullish momentum. However, the RSI is neutral at 77.95, and moving averages are converging, suggesting no clear trend. The stock is trading near resistance levels (R1: 46.947, R2: 49.72), which could limit upside potential in the short term.
Analysts view the stock as inexpensive and maintain a Buy rating despite recent price target reductions. Medium-term growth outlook remains intact.
Declining financial performance in Q3 2026, including a significant drop in net income (-73.18% YoY) and EPS (-69.57% YoY). Analysts see no near-term catalysts for a rally. Stock trend analysis suggests potential short-term downside (-8.22% in the next week).
In Q3 2026, revenue increased by 10.59% YoY, but net income and EPS saw significant declines of -73.18% and -69.57% YoY, respectively. Gross margin also dropped slightly to 67.93%.
Analysts have lowered price targets recently, citing challenges such as the Middle East war's impact on travel and softer Q4 expectations. However, they maintain Buy ratings, citing attractive valuation and medium-term growth potential.
