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 strategy. While the stock has some positive aspects, such as solid revenue growth and attractive valuation per analysts, the weak financial performance in the latest quarter, bearish moving averages, and lack of strong trading signals suggest waiting for a better entry point.
The MACD is positive and expanding, which is a bullish signal, but the RSI is neutral at 55.634, indicating no clear momentum. The moving averages are bearish (SMA_200 > SMA_20 > SMA_5), suggesting a downtrend. Key support is at 54.599, and resistance is at 59.454.
Analysts view the valuation as attractive at current levels. The company is performing better than its peers in the OTA space despite challenging circumstances. Revenue growth of 10.59% YoY in Q3 2026 is a positive indicator.
Gross margin also slightly decreased. Analysts have recently lowered their price targets, and the stock trend indicates a potential decline in the next week (-9.19%).
In Q3 2026, revenue increased by 10.59% YoY to $295.69 million, but net income dropped significantly by -73.18% YoY to $7.25 million. EPS also fell by -69.57% YoY to $0.07, and gross margin slightly declined to 67.93%.
Analysts maintain a Buy or Overweight rating but have lowered price targets due to more modest margin assumptions. Citi reduced the price target to $96, Morgan Stanley to $106, and BofA to $113.
