MakeMyTrip Limited (MMYT - Free Report) was a big mover last session, as its shares rose more than 44% on the day. The move came after the Indian travel website announced it would acquire rival Ibibo Group to create the biggest company in India’s fast-growing travel bookings market. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $20.40 to $23.60 in the past one-month time frame.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
MakeMyTrip currently sports a Zacks Rank #1 (Strong Buy) while its Earnings ESP is 0.00%.
A similarly-ranked stock in the internet services-delivery space is LightInTheBox Holding Co., Ltd. , which also sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
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