<div id="readability-page-1"><div><p>MakeMyTrip (MMYT) recently drew investors’ attention after new analyst coverage with an Outperform rating coincided with a 5% rise in its share price, supported by stronger international air ticketing and hotel revenues.</p> <p>See our latest analysis for MakeMyTrip.</p> <p>That bullish reaction fits into a more mixed year for MakeMyTrip, with a 30 day share price return of 14.31% but a year to date share price return of negative 27.40%. The five year total shareholder return of 210.33% still speaks to strong long term momentum.</p> <p>If you like the growth story here, it is also a good moment to scan fast growing stocks with high insider ownership and see what other fast moving opportunities are starting to attract serious investor attention.</p> <p>With the shares still down sharply this year but trading about 32% below consensus price targets, investors are left weighing strong growth and sentiment shifts: is MakeMyTrip undervalued today or already pricing in its next leg of expansion?</p> <h2>Most Popular Narrative Narrative: 24.3% Undervalued</h2> <p>With MakeMyTrip last closing at $84.38 versus a fair value estimate of $111.40, the dominant narrative sees meaningful upside still on the table.</p> <blockquote> <p><em>Ongoing investment in product innovation, particularly in AI powered personalization and user experience improvements, positions MakeMyTrip for higher conversion rates, better customer retention, and ultimately supports expanding net margins through improved operating leverage.</em></p> </blockquote> <p>Read the complete narrative.</p> <p>Want to see the earnings and margin roadmap behind that upside call? The narrative quietly bakes in turbocharged profit growth and a punchy future multiple. Curious which assumptions really move the needle on that fair value?</p> <p><strong>Result: Fair Value of $111.40 (UNDERVALUED)</strong></p> <p>Have a read of the narrative in full and understand what's behind the forecasts.</p> <p>However, lingering pressure on domestic air travel and consistently high customer acquisition costs could quickly puncture the optimism embedded in today’s positive outlook.</p> <p>Find out about the key risks to this MakeMyTrip narrative.</p> <h2>Another View: Rich Valuation on Earnings</h2> <p>While the narrative fair value suggests upside, the current price tells a tougher story. MakeMyTrip trades on a price to earnings ratio of 104.9 times, versus about 24.1 times for the US Hospitality industry, 21.4 times for peers, and a fair ratio of 32.7 times. That very wide gap points to a lot of execution risk if growth or margins wobble even slightly, so investors must ask whether today’s optimism is already fully priced in.</p> <p>See what the numbers say about this price — find out in our valuation breakdown.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/04965fa8-0e48-4f6d-b994-aca16de29f0a/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/04965fa8-0e48-4f6d-b994-aca16de29f0a/chart/pe-multiple-vs-industry"/><figcaption>NasdaqGS:MMYT PE Ratio as at Dec 2025</figcaption></figure><h2> Build Your Own MakeMyTrip Narrative</h2> <p>If this perspective does not quite match your own view, dive into the numbers yourself and build a personalized narrative in minutes, Do it your way.</p> <p>A great starting point for your MakeMyTrip research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.</p> <h2>Looking for more investment ideas?</h2> <p>Before you move on, make sure you are not leaving potential winners on the table by overlooking targeted stock ideas shaped by real fundamentals and market trends.</p> <ul> <li>Capitalize on potential mispricing by reviewing these 908 undervalued stocks based on cash flows that may be trading below what their cash flows suggest they are worth.</li> <li>Ride the next wave of technological change by focusing on these 26 AI penny stocks positioned to benefit from rapid advances in artificial intelligence.</li> <li>Strengthen your income strategy with these 13 dividend stocks with yields &gt; 3% that combine attractive yields with the potential for capital growth.</li> </ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><p>Mobile Infrastructure for Defense and Disaster</p><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p><p>Get the investor briefing before the next round of contracts</p><p><span>Sponsored On Behalf of CiTech</span></p></div></div></div>

MMYT

<p>MakeMyTrip (MMYT) received an Outperform rating, boosting its share price by 5%. Despite a mixed year, with a 14.31% 30-day return but a negative 27.40% YTD return, its long-term momentum remains strong. The stock is seen as 24.3% undervalued, with a fair value of $111.40, driven by AI innovations and improved margins. However, high P/E ratio and domestic travel pressures pose risks. Investors are advised to consider both growth potential and valuation risks.</p>

MakeMyTrip (NasdaqGS:MMYT): Revisiting Valuation After New Outperform Rating and Strong Travel Revenue Growth