Here's Why MakeMyTrip (MMYT) Fell More Than Broader Market

MakeMyTrip (MMYT) ended the recent trading session at $96.39, demonstrating a -1.64% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.27%, while the tech-heavy Nasdaq lost 0.07%. Heading into today, shares of the online travel company had lost 1.48% over the past month, lagging the Computer and Technology sector's gain of 6.17% and the S&P 500's gain of 2.71%.Investors will be eagerly watching for the performance of MakeMyTrip in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.45, signifying a 25.00% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $264.28 million, showing a 25.26% escalation compared to the year-ago quarter. MMYT's full-year Zacks Consensus Estimates are calling for earnings of $2.16 per share and revenue of $1.19 billion. These results would represent year-over-year changes of +38.46% and +21.79%, respectively. It's also important for investors to be aware of any recent modifications to analyst estimates for MakeMyTrip. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. MakeMyTrip is currently a Zacks Rank #3 (Hold). In terms of valuation, MakeMyTrip is presently being traded at a Forward P/E ratio of 45.37. Its industry sports an average Forward P/E of 15.46, so one might conclude that MakeMyTrip is trading at a premium comparatively. The Internet - Delivery Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 107, positioning it in the top 44% of all 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. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. 3 Stocks Poised to Lead the AI Software RaceThe software market is expected to witness a remarkable growth trajectory worldwide. Advancements in AI, increased demand for cybersecurity, and the rapid expansion of automation and robotics is offering investors an opportunity to unlock significant growth right now.Which software stocks will soar? Which will fizzle out? Find out in our urgent special report, Software is Eating the World. It examines where the software industry stands now and reveals three favorite software stocks to ownAccess the report free today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MakeMyTrip Limited (MMYT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks