MakeMyTrip Ltd (NASDAQ:MMYT) – A Strong Growth Stock with Technical Breakout Potential

MakeMyTrip Ltd (NASDAQ:MMYT) has been identified as a strong growth stock with a promising technical setup. The company, a leading online travel services provider in India, shows solid fundamental growth metrics while presenting a technical pattern that could signal a breakout opportunity.

Growth Fundamentals

• Revenue & Earnings Growth: MMYT reported a 25.03% year-over-year revenue increase, with earnings per share (EPS) growing by 32.17%. Future estimates suggest continued strong growth, with EPS expected to rise by 22.32% annually.
• Industry Outperformance: The company’s growth metrics outperform 80% of its peers in the Hotels, Restaurants & Leisure industry.
• Healthy Margins: MMYT maintains a gross margin of 71.96%, better than 88.81% of competitors, indicating strong pricing power and cost efficiency.

Financial Health

• Strong Balance Sheet: With minimal debt (Debt/Equity ratio of 0.01) and a solid current ratio of 1.85, MMYT is in a stable financial position.
• Positive Cash Flow: The company has consistently generated positive cash flow from operations over the past five years.

Technical Setup

• Consolidation Phase: MMYT has been trading in a range between $94.20 and $113.85, showing signs of reduced volatility before a potential breakout.
• Support & Resistance Levels: Key support lies near $102.67, while resistance is found around $111.36. A breakout above resistance could signal further upside.
• Setup Rating: The stock has a technical setup rating of 7/10, suggesting a favorable risk-reward scenario for traders.

For a deeper look at MMYT’s fundamentals, check the full fundamental report. The technical analysis report provides additional insights into the stock’s price action.

Our Strong Growth Stocks with Good Technical Setup Ratings screener lists more stocks with similar characteristics and is updated daily.

Disclaimer

This is not investing advice! The article highlights observations at the time of writing, but you should always conduct your own analysis before making investment decisions.