Why is 3904.T stock down sharply pre-market?

The fall reflects heavy pre-market volume and sector weakness, not a public earnings release. Relative volume is high at **272,700** vs average **51,388**, which amplified selling. Monitor official company updates ahead of the 07 May 2026 earnings announcement.

How cheap or expensive is 3904.T stock versus peers?

KAYAC trades at PE **16.99** and PB **1.32**, below the Technology sector PE of **25.97**. Cash per share **JPY 389.16** cushions valuation, indicating relative value versus many peers, despite recent operating profit declines.

What price targets and forecasts exist for 3904.T stock?

Meyka AI's model projects monthly **JPY 498.43** (+**4.71%**), quarterly **JPY 432.09** (−**9.25%**), yearly **JPY 370.16** (−**22.27%**) from the current **JPY 476.00**. These are model projections and are not guarantees.

What are the main risks for 3904.T stock investors?

Primary risks are rising short-term volatility, lower operating income and EPS growth in FY 2024, and concentrated trading spikes. Low free cash flow visibility and sector headwinds could extend downside ahead of the May 2026 earnings date.

JP Stocks

3904.T KAYAC Inc. (JPX) down 20.40% pre-market 19 Feb 2026: valuation and outlook

ByHuzaifa Zahoor February 18, 2026

3904.T stock fell 20.40% pre-market to JPY 476.00 on 19 Feb 2026, trading at roughly 45% below recent intraday peaks and on volume of 272,700 shares. The move makes KAYAC Inc. (3904.T) one of the JPX top losers in the pre-market session. We examine the drivers, valuation, technical levels and near-term price scenarios so traders can weigh risk versus opportunity.