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Has MakeMyTrip Limited (MMYT) Outpaced Other Computer and Technology Stocks This Year?


TThe Computer and Technology group has a large number of stocks, but investors should always look for companies that are better than their peers. Is MakeMyTrip (MMYT) one of the stocks today? Let’s take a closer look at the year-to-date performance of the stock to find out.

MakeMyTrip is a member of the Computer and Technology sector. This group includes 666 individual stocks and currently has a Zacks Sector Rank of #8. Zacks Sector Rank considers 16 different sector groups. Zacks ’average Rank of individual stocks within groups is measured, and sectors are listed from best to worst.

Zacks Rank highlights earnings estimates and estimates fluctuations to find stocks with improving earnings outlook. This system has a long track record of success, and these stocks are likely to be on track to beat the market in the next one to three months. MakeMyTrip currently sports Zacks Rank #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for MMYT’s full -year revenue has grown 25% higher. This is a sign of improving analyst sentiment and a positive trend in the earnings outlook.

According to our latest data, MMYT has moved about 1.2% on a year-to-date basis. Meanwhile, stocks of the Computer and Technology group lost about 42.1% on average. This shows that MakeMyTrip is superior to its peers so far this year.

Another Computer and Technology stock that has outperformed the sector so far this year is Photronics (PLAB). The stock rose 3.4% year-to-date.

In the case of Photronics, the consensus EPS estimate for the current year is up 27.2% over the past three months. The stock currently has Zacks Rank #1 (Strong Buy).

To look more specific, MakeMyTrip belongs to the Internet industry – Delivery Services, which includes 5 individual stocks and currently sits at #6 in the Zacks Industry Rank. This group has lost an average of 7% so far this year, so MMYT is doing better in this area.

Photronics, however, belongs to the Semiconductor Equipment – Photomasks industry. Currently, this 2-stock industry is ranked #29. The industry has moved + 3.4% so far this year.

MakeMyTrip and Photronics can continue their strong performance, so investors interested in Computer and Technology stocks should continue to pay attention to these stocks.

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MakeMyTrip Limited (MMYT): Free Stock Analysis Report

Photronics, Inc. (PLAB): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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