MakeMyTrip (MMYT) closed the most recent trading day at $105.92, moving -0.66% from the previous trading session. This change lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq lost 0.53%.

Heading into today, shares of the online travel company had gained 14.24% over the past month, outpacing the Computer and Technology sector's loss of 7.14% and the S&P 500's loss of 4.03% in that time.

Market participants will be closely following the financial results of MakeMyTrip in its upcoming release. The company is expected to report EPS of $0.42, up 10.53% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $246.18 million, up 21.34% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $1.59 per share and a revenue of $979.28 million, demonstrating changes of +30.33% and +25.14%, respectively, from the preceding 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 company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. MakeMyTrip is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, MakeMyTrip is currently being traded at a Forward P/E ratio of 67.27. This valuation marks a premium compared to its industry's average Forward P/E of 21.43.

We can additionally observe that MMYT currently boasts a PEG ratio of 10.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Delivery Services industry currently had an average PEG ratio of 1.46 as of yesterday's close.

The Internet - Delivery Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 32% of over 250 industries.

Story Continues

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.

To follow MMYT in the coming trading sessions, be sure to utilize Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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