MakeMyTrip Limited (NASDAQ:MMYT) has seen a significant 36% increase in share price over the past few months. Despite this recent price jump, the company is yet to reach its highest annual levels. Given its mid-cap status and the consistent analyst coverage it receives, any new developments regarding the company’s outlook may already be factored into the stock price. However, further examination of MakeMyTrip’s valuation and future prospects could reveal potential buying opportunities. Our price multiple model suggests that the company may be overpriced when comparing its price-to-earnings ratio to industry averages. Further detailed analysis is required to conclusively determine if MakeMyTrip still represents a bargain opportunity.