MAKEMYTRIP LTD (NASDAQ:MMYT) – A Strong Growth Stock with Technical Breakout Potential

MAKEMYTRIP LTD (NASDAQ:MMYT) was identified by our screener as a strong growth stock with a favorable technical setup. The company, a leading online travel services provider in India, demonstrates solid growth fundamentals while presenting a potential breakout opportunity. Below, we examine why MMYT stands out.

Growth Fundamentals

• Revenue & Earnings Growth: MMYT reported a 25% year-over-year revenue increase, with earnings per share (EPS) growing by 32%. Future projections suggest continued strong growth, with EPS expected to rise by 22% annually.
• Profitability: The company maintains healthy margins, with a gross margin of 72% and an operating margin of 12%, outperforming many industry peers.
• Financial Health: With minimal debt and strong liquidity ratios, MMYT holds a solid financial position, reflected in its 7/10 Health Rating.

Technical Setup

• Consolidation Pattern: MMYT has been trading in a defined range, with support near $100 and resistance around $102. A breakout above resistance could signal further upside.
• Setup Rating: The stock earns an 8/10 Setup Rating, indicating a favorable technical pattern for potential entry.
• Relative Strength: Despite recent consolidation, MMYT has outperformed 77% of stocks over the past year, showing resilience in its sector.

Valuation Considerations

While MMYT trades at a high P/E ratio (66x), this reflects its growth trajectory. Investors should weigh valuation against future earnings potential, especially given the company’s accelerating revenue growth.

For a deeper analysis, review the full fundamental report and technical report.

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Disclaimer
This is not investment advice. Always conduct your own research before making investment decisions.