MakeMyTrip Limited (MMYT) was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the stock, which is now trading above the volatile price range of $13.65 to $15.33 in the past one-month time frame.
The company has seen one negative revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time period. This suggests that there may be trouble down the road. So keep a close watch on this firm going forward to see if this recent jump can last.
Makemytrip currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Some better-placed stocks in the Internet services – delivery industry include Bitauto Holdings Limited (BITA), Ctrip.com International Ltd (CTRP) and E-Commerce China Dangdang Inc. (DANG). All of these have a Zacks Rank #2 (Buy).
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