Moonpig Group (LON:MOON) Sets New 1-Year High - Here's Why

Key Points

• Moonpig shares reached a new 52-week high, trading as high as GBX 290 before closing around GBX 286.74, with a market capitalization of approximately £851.71 million.
• Analyst sentiment remains positive: six analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average target price of GBX 299.29.
• Moonpig operates online greeting-card and gifting brands across the UK, Netherlands, Ireland, Australia and the United States, while its board has also authorized a share repurchase plan.

Moonpig Group PLC (LON:MOON - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 290 and last traded at GBX 286.74, with a volume of 85786 shares traded. The stock had previously closed at GBX 285.80.

Wall Street Analyst Weigh In

MOON has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 235 price target on shares of Moonpig Group in a research note on Friday, June 26th. Berenberg Bank reiterated a "buy" rating and issued a GBX 300 target price on shares of Moonpig Group in a report on Thursday, June 25th. Jefferies Financial Group restated a "buy" rating and set a GBX 315 price target on shares of Moonpig Group in a report on Thursday, June 25th. Finally, Canaccord Genuity Group lowered their price target on Moonpig Group from GBX 310 to GBX 300 and set a "buy" rating on the stock in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of GBX 299.29.

Moonpig Group Stock Performance

The company has a quick ratio of 0.46, a current ratio of 0.21 and a debt-to-equity ratio of -216.13. The firm has a 50-day moving average of GBX 262.78 and a 200 day moving average of GBX 230.54. The stock has a market capitalization of £851.71 million, a P/E ratio of 18.47 and a beta of 0.97.

Moonpig Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 7th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About Moonpig Group

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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