MakeMyTrip (MMYT) Stock Drops Despite Market Gains: Important Facts to Note

In the latest close session, MakeMyTrip (MMYT) was down 2.64% at $100.45. This change lagged the S&P 500's 0.32% gain on the day. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq added 0.53%. Shares of the online travel company witnessed a gain of 11.45% over the previous month, beating the performance of the Computer and Technology sector with its gain of 2.37%, and the S&P 500's gain of 1.52%.Market participants will be closely following the financial results of MakeMyTrip in its upcoming release. On that day, MakeMyTrip is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 25%. Our most recent consensus estimate is calling for quarterly revenue 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's also important for investors to be aware of any recent modifications to analyst estimates for MakeMyTrip. Such recent modifications usually signify the changing landscape of near-term business trends. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. MakeMyTrip is holding a Zacks Rank of #3 (Hold) right now. In terms of valuation, MakeMyTrip is presently being traded at a Forward P/E ratio of 47.76. This represents a premium compared to its industry average Forward P/E of 14.88. The Internet - Delivery Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 45% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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. Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>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