Rightmove (LON:RMV) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Rightmove shares moved above their 200-day moving average, reaching GBX 459.20 before closing at GBX 440.90 on significant trading volume.
• Analyst sentiment remains mixed: the stock has an overall “Hold” consensus, with price targets ranging from GBX 429 to GBX 665 and an average target of GBX 595.12.
• Rightmove reported quarterly EPS of GBX 15.60, a 49.72% net margin and a 281.32% return on equity; analysts expect full-year EPS of about GBX 30.23.

Rightmove plc (LON:RMV - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 451.42 and traded as high as GBX 459.20. Rightmove shares last traded at GBX 440.90, with a volume of 3,874,685 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a "hold" rating and set a GBX 465 target price on shares of Rightmove in a report on Tuesday, September 8th. JPMorgan Chase & Co. boosted their price target on Rightmove from GBX 404 to GBX 429 and gave the company an "underweight" rating in a report on Monday, August 3rd. Berenberg Bank reaffirmed a "buy" rating and set a GBX 575 price objective on shares of Rightmove in a research report on Monday, August 3rd. Citigroup increased their price objective on Rightmove from GBX 455 to GBX 486 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 665 target price on shares of Rightmove in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of GBX 595.12.

Rightmove Price Performance

The firm has a market cap of £3.22 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.58 and a beta of 0.91. The company's fifty day moving average is GBX 482.98 and its 200 day moving average is GBX 451.42. The company has a quick ratio of 2.55, a current ratio of 1.53 and a debt-to-equity ratio of 7.35.

Rightmove (LON:RMV - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported GBX 15.60 earnings per share (EPS) for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. On average, equities research analysts predict that Rightmove plc will post 30.2327791 EPS for the current year.

Rightmove declared that its board has approved a share buyback program on Friday, July 31st that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

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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