In the latest trading session, MakeMyTrip (MMYT) closed at $83.46, marking a +1.61% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.62%. Elsewhere, the Dow saw an upswing of 0.99%, while the tech-heavy Nasdaq appreciated by 0.65%.
Prior to today's trading, shares of the online travel company had gained 17.59% outpaced the Computer and Technology sector's loss of 1.47% and the S&P 500's gain of 0.59%.
The investment community will be closely monitoring the performance of MakeMyTrip in its forthcoming earnings report. The company is predicted to post an EPS of $0.43, indicating a 10.26% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.62 million, up 17.3% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.62 per share and revenue of $1.11 billion, which would represent changes of +3.85% and +13.49%, respectively, from the prior year.
Any recent changes to analyst estimates for MakeMyTrip should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. MakeMyTrip is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, MakeMyTrip is presently being traded at a Forward P/E ratio of 50.7. This indicates a premium in contrast to its industry's Forward P/E of 13.37.
The Internet - Delivery Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 110, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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MakeMyTrip Limited (MMYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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