Moonpig Group (LON:MOON) Reaches New 52-Week High - Here's Why

Key Points

• Moonpig Group stock hit a new 52-week high, rising to GBX 270.80 intraday before closing near GBX 270. The move came on volume of 167,830 shares.
• Recent analyst commentary has been largely positive, with six Buy ratings and one Hold across recent reports. The consensus target price is about GBX 299.29, with several firms maintaining or raising bullish price targets.
• The company also has a share buyback authorization in place, which management often uses to signal confidence in valuation. Moonpig Group is an online greeting card and gifting platform with leading positions in the UK and Netherlands.

Moonpig Group PLC (LON:MOON - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 270.80 and last traded at GBX 270, with a volume of 167830 shares. The stock had previously closed at GBX 269.20.

Analyst Ratings Changes

MOON has been the subject of several recent research reports. Jefferies Financial Group reissued a "buy" rating and set a GBX 315 target price on shares of Moonpig Group in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 235 price objective on shares of Moonpig Group in a research note on Friday, June 26th. Berenberg Bank reiterated a "buy" rating and set a GBX 300 price target on shares of Moonpig Group in a report on Thursday, June 25th. Canaccord Genuity Group dropped their price objective on Moonpig Group from GBX 310 to GBX 300 and set a "buy" rating on the stock in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on Moonpig Group from GBX 275 to GBX 285 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 299.29.

Moonpig Group Stock Performance

The company has a market capitalization of £801.56 million, a P/E ratio of 17.28 and a beta of 0.95. The company's 50 day moving average is GBX 227.35 and its 200-day moving average is GBX 217.35. The company has a current ratio of 0.21, a quick ratio of 0.46 and a debt-to-equity ratio of -216.13.

Moonpig Group declared that its Board of Directors has authorized a share buyback plan on Thursday, May 7th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Moonpig Group Company Profile

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States. The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.

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