MakeMyTrip (MMYT) closed at $57.08 in the latest trading session, marking a -2.63% move from the prior day. This change lagged the S&P 500’s daily loss of 0.79%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 1.55%.
The online travel company’s stock has climbed by 35.85% in the past month, exceeding the Computer and Technology sector’s gain of 3.44% and the S&P 500’s gain of 4.28%.
Investors will be eagerly watching for the performance of MakeMyTrip in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.1, showcasing a 76.19% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $270.73 million, indicating a 0.7% upward movement from the same quarter last year.
MMYT’s full-year Zacks Consensus Estimates are calling for earnings of $0.98 per share and revenue of $1.14 billion. These results would represent year-over-year changes of -37.18% and +9.24%, respectively.
Investors should also note any recent changes to analyst estimates for MakeMyTrip. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Currently, MakeMyTrip is carrying a Zacks Rank of #5 (Strong Sell).
Looking at valuation, MakeMyTrip is presently trading at a Forward P/E ratio of 60.02. This valuation marks a premium compared to its industry average Forward P/E of 11.27.
The Internet – Delivery Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 6% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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