Citigroup Cuts Rightmove (LON:RMV) Price Target to GBX 455

Key Points

• Citigroup cut its price target on Rightmove from GBX 520 to GBX 455 and maintained a "neutral" rating, implying only about a 4.0% upside from the current share price.
• Other brokers are also more cautious — JPMorgan lowered its target to GBX 489 and flagged the stock as "underweight" — while the analyst consensus is a "Hold" with an average target of GBX 667 (four Buys, one Hold, two Sells).
• Insider buying occurred in March, with executives purchasing shares at ~GBX 457–461 (insiders own 0.37%), even as the stock trades around GBX 437 and below its 200-day moving average.

Rightmove (LON:RMV - Get Free Report) had its price objective dropped by equities researchers at Citigroup from GBX 520 to GBX 455 in a report released on Thursday,London Stock Exchange reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target suggests a potential upside of 4.04% from the company's current price.

Separately, JPMorgan Chase & Co. reduced their target price on Rightmove from GBX 521 to GBX 489 and set an "underweight" rating for the company in a research note on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of GBX 667.

Rightmove Trading Down 0.9%

Shares of LON:RMV opened at GBX 437.35 on Thursday. Rightmove has a 12-month low of GBX 391.40 and a 12-month high of GBX 827. The company has a market capitalization of £3.30 billion, a PE ratio of 15.62, a PEG ratio of 2.58 and a beta of 0.92. The business has a 50 day moving average of GBX 440.40 and a two-hundred day moving average of GBX 535.14. The company has a current ratio of 1.89, a quick ratio of 2.55 and a debt-to-equity ratio of 13.13.

Rightmove (LON:RMV - Get Free Report) last announced its earnings results on Friday, February 27th. The company reported GBX 29.10 earnings per share for the quarter. Rightmove had a return on equity of 264.68% and a net margin of 51.06%. As a group, analysts forecast that Rightmove will post 30.2327791 EPS for the current year.

Insider Buying and Selling at Rightmove

In other news, insider Johan Svanström acquired 4,328 shares of Rightmove stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of GBX 461 per share, with a total value of £19,952.08. Also, insider Ruaridh Hook acquired 2,077 shares of Rightmove stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of GBX 457 per share, with a total value of £9,491.89. 0.37% of the stock is currently owned by corporate insiders.

About Rightmove

Rightmove plc, together with its subsidiaries, operates online digital property advertising and information portals in the United Kingdom and internationally. The company operates through Agency, New Homes, and Other segments. The Agency segment provides property resale and letting advertising services on its platforms. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.

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