MakeMyTrip (MMYT) closed the latest trading day at $71.39, moving +1.54% from the previous trading session. The stock outperformed the S&P 500 Index, which recorded daily gains of 0.54%. On the other hand, the Dow Jones recorded gains of 0.61%, and the technology-focused Nasdaq rose by 0.65%.
The online travel company’s shares witnessed a loss of 13.11% compared to the previous month, lagging behind the performance of the computer and technology sector with a loss of 1.42%, and the S&P 500 index’s loss of 0.8%.
Analysts and investors alike will be closely watching MakeMyTrip’s performance in its upcoming earnings disclosure. The company is expected to report EPS of $0.43, displaying an upward move of 10.26% from the corresponding quarter of the previous year. Meanwhile, our latest estimate projects revenues to reach $313.62 million, indicating an increase of 17.3% compared to the same quarter last year.
Looking at the full year, Zacks Consensus Estimates suggest analysts are expecting earnings of $1.62 per share and revenue of $1.11 billion. These totals would represent changes of +3.85% and +13.49% respectively from last year.
Investors should also note any recent revisions to analyst estimates for MakeMyTrip. These recent adjustments often reflect the changing dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock movements. To benefit from this, we created the Zacks Rank, a proprietary model that incorporates 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. Within the past 30 days, our consensus EPS projection has moved 29.13% lower. Currently, MakeMyTrip has a Zacks Rank of #3 (Hold).
In terms of valuation, MakeMyTrip is currently trading at a forward P/E ratio of 43.4. This valuation represents a premium compared to its industry’s average Forward P/E of 12.85.
The Internet and delivery services industry is part of the Computer and Technology sector. This industry, which currently carries a Zacks Industry Rank of 168, finds itself in the bottom 32% of all 250+ industries.
The Zacks Industry Rank evaluates the strength of our specific industry groups by calculating the average Zacks Rank of the individual stocks combined into the groups. Our research shows that the top 50% of ranked industries outperform the bottom half by a factor of 2 to 1.
Don’t forget to use Zacks.com to track all of the stock’s movement metrics and more in the upcoming trading sessions.
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