The latest trading session saw MakeMyTrip (MMYT) ending at $101.23, denoting a +1.38% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.75%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1%.

The online travel company's stock has climbed by 5.18% in the past month, exceeding the Computer and Technology sector's gain of 2.48% and the S&P 500's gain of 4.03%.

The investment community will be paying close attention to the earnings performance of MakeMyTrip in its upcoming release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $216.03 million, up 28.06% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.71 per share and a revenue of $946.59 million, representing changes of +40.16% and +20.97%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MakeMyTrip. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. MakeMyTrip is holding a Zacks Rank of #1 (Strong Buy) right now.

Valuation is also important, so investors should note that MakeMyTrip has a Forward P/E ratio of 58.39 right now. This signifies a premium in comparison to the average Forward P/E of 23.35 for its industry.

Also, we should mention that MMYT has a PEG ratio of 4.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Internet - Delivery Services stocks are, on average, holding a PEG ratio of 2.43 based on yesterday's closing prices.

The Internet - Delivery Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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