Yahoo Finance MakeMyTrip (MMYT) Stock Falls Amid Market Uptick: What Investors Need to Know
MakeMyTrip (MMYT) closed the most recent trading day at $82.53, moving -1.88% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.49%.
The online travel company's stock has climbed by 7.99% in the past month, exceeding the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 3.22%.
Analysts and investors alike will be keeping a close eye on the performance of MakeMyTrip in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.38, showcasing a 26.67% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $230.58 million, up 17.21% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.62 per share and revenue of $926.3 million, which would represent changes of +32.79% and +18.37%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for MakeMyTrip. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Right now, MakeMyTrip possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, MakeMyTrip is at present trading with a Forward P/E ratio of 52.08. This denotes a premium relative to the industry's average Forward P/E of 21.73.
Also, we should mention that MMYT has a PEG ratio of 4.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Delivery Services industry currently had an average PEG ratio of 2.5 as of yesterday's close.
The Internet - Delivery Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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MakeMyTrip Limited (MMYT) : Free Stock Analysis Report
