MakeMyTrip (MMYT) Registers a Bigger Fall Than the Market: Important Facts to Note

MakeMyTrip (MMYT) ended the recent trading session at $96.70, demonstrating a -5.07% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.55%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.95%. Heading into today, shares of the online travel company had lost 0.39% over the past month, lagging the Computer and Technology sector's gain of 9.88% and the S&P 500's gain of 3.64%.The investment community will be paying close attention to the earnings performance of MakeMyTrip in its upcoming release. In that report, analysts expect MakeMyTrip to post earnings of $0.45 per share. This would mark year-over-year growth of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $264.28 million, up 25.26% from the year-ago period. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.16 per share and a revenue of $1.19 billion, indicating changes of +38.46% and +21.79%, respectively, from the former year. It is also important to note the recent changes to analyst estimates for MakeMyTrip. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, MakeMyTrip is carrying a Zacks Rank of #3 (Hold). Looking at valuation, MakeMyTrip is presently trading at a Forward P/E ratio of 47.16. This valuation marks a premium compared to its industry average Forward P/E of 16.02. The Internet - Delivery Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 103, placing it within the top 42% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow MMYT in the coming trading sessions, be sure to utilize Zacks.com. Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>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