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

Zacks Equity Research
·2-min read

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is MakeMyTrip (MMYT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

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

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MakeMyTrip is currently sporting a Zacks Rank of #2 (Buy).

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

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

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

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

Looking more specifically, MakeMyTrip belongs to the Internet - Delivery Services industry, 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 performing 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 could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close 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.