Rightmove (LON:RMV) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Rightmove shares climbed above their 200-day moving average, reaching GBX 507.80 before closing at GBX 499.20, compared with the 200-day average of GBX 450.14.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of GBX 595.12. Targets range from GBX 429 to GBX 665, with four Buy, three Hold, and one Sell rating.
• 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)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 450.14 and traded as high as GBX 507.80. Rightmove shares last traded at GBX 499.20, with a volume of 3,774,593 shares.

Wall Street Analysts Forecast Growth

RMV has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Rightmove from GBX 404 to GBX 429 and gave the stock an "underweight" rating in a report on Monday, August 3rd. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 465 target price on shares of Rightmove in a report on Tuesday, September 8th. Citigroup increased their price target on Rightmove from GBX 455 to GBX 486 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Berenberg Bank restated a "buy" rating and set a GBX 575 price target on shares of Rightmove in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 665 price objective on shares of Rightmove in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of GBX 595.12.

Rightmove Stock Performance

The business has a 50-day moving average of GBX 479.24 and a two-hundred day moving average of GBX 450.14. The company has a market cap of £3.65 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.58 and a beta of 0.91. The company has a debt-to-equity ratio of 7.35, a current ratio of 1.53 and a quick ratio of 2.55.

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

Rightmove declared that its Board of Directors has initiated a share repurchase program on Friday, July 31st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are 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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