MakeMyTrip MMYT shares rallied 5.2% in the last trading session to close at $82.6. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 3.2% gain over the past four weeks.
The optimism surrounding the stock can be attributed to growth in international air ticketing and hotel revenues. Despite seasonal and weather disruptions, travel demand rebounded, supported by strong leisure and experiential travel trends.
This online travel company is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of +10.3%. Revenues are expected to be $313.62 million, up 17.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For MakeMyTrip, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MMYT going forward to see if this recent jump can turn into more strength down the road.
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The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
MakeMyTrip is a member of the Zacks Internet – Delivery Services industry. One other stock in the same industry, QuinStreet QNST, finished the last trading session 0.3% lower at $14.5. QNST has returned 2.7% over the past month.
QuinStreet’s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. Compared to the company’s year-ago EPS, this represents a change of +5%. QuinStreet currently boasts a Zacks Rank of #3 (Hold).
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MakeMyTrip Limited (MMYT) : Free Stock Analysis Report
QuinStreet, Inc. (QNST) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
