MakeMyTrip (MMYT) Gains As Market Dips: What You Should Know
MakeMyTrip (MMYT) closed at $108.47 in the latest trading session, marking a +1.46% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.19%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 0.36%.
Coming into today, shares of the online travel company had gained 9.35% in the past month. In that same time, the Computer and Technology sector lost 0.09%, while the S&P 500 gained 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of MakeMyTrip in its upcoming earnings disclosure. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $216.03 million, up 28.06% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.71 per share and a revenue of $946.59 million, indicating changes of +40.16% and +20.97%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for MakeMyTrip. Such recent modifications usually signify the changing landscape of 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 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, MakeMyTrip boasts a Zacks Rank of #1 (Strong Buy).
Investors should also note MakeMyTrip's current valuation metrics, including its Forward P/E ratio of 62.52. This signifies a premium in comparison to the average Forward P/E of 24.69 for its industry.
It's also important to note that MMYT currently trades at a PEG ratio of 4.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. MMYT's industry had an average PEG ratio of 2.6 as of yesterday's close.
The Internet - Delivery Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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MakeMyTrip Limited (MMYT) : Free Stock Analysis Report