MakeMyTrip (MMYT) Stock Moves -0.52%: What You Should Know
In the latest trading session, MakeMyTrip (MMYT) closed at $60.90, marking a -0.52% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
The online travel company's shares have seen a decrease of 10.67% over the last month, not keeping up with the Computer and Technology sector's loss of 3.33% and the S&P 500's loss of 2.57%.
Market participants will be closely following the financial results of MakeMyTrip in its upcoming release. In that report, analysts expect MakeMyTrip to post earnings of $0.24 per share. This would mark year-over-year growth of 14.29%. Simultaneously, our latest consensus estimate expects the revenue to be $195.15 million, showing a 31.39% escalation compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for MakeMyTrip. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, MakeMyTrip holds a Zacks Rank of #1 (Strong Buy).
Looking at valuation, MakeMyTrip is presently trading at a Forward P/E ratio of 42.08. This indicates a premium in contrast to its industry's Forward P/E of 25.49.
The Internet - Delivery Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MMYT in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
MakeMyTrip Limited (MMYT) : Free Stock Analysis Report
