In the latest close session, MakeMyTrip (MMYT) was down 2.58% at $53.21. The stock's performance was behind the S&P 500's daily loss of 0.19%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 0.05%.
The online travel company's shares have seen an increase of 16.91% over the last month, surpassing the Computer and Technology sector's loss of 4.32% and the S&P 500's gain of 0.55%.
The upcoming earnings release of MakeMyTrip will be of great interest to investors. The company is forecasted to report an EPS of $0.01, showcasing a 97.62% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $270.73 million, up 0.7% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1 per share and a revenue of $1.14 billion, demonstrating changes of -35.9% and +9.24%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MakeMyTrip. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 3.13% higher within the past month. MakeMyTrip is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, MakeMyTrip currently has a Forward P/E ratio of 54.8. This signifies a premium in comparison to the average Forward P/E of 11.26 for its industry.
The Internet - Delivery Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 229, placing it within the bottom 7% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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MakeMyTrip Limited (MMYT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).