Rightmove (LON:RMV) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Rightmove shares climbed above their 200-day moving average, reaching GBX 513.60 and closing at GBX 511.18 on heavy trading volume.
• Analyst sentiment remains mixed: the consensus rating is “Hold”, with a GBX 595.12 average price target; targets range from GBX 465 to GBX 665.
• Rightmove reported GBX 15.60 quarterly EPS, a 49.72% net margin and 281.32% return on equity, while analysts expect approximately 30.23 EPS for the full year.

Rightmove plc (LON:RMV - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 442.36 and traded as high as GBX 513.60. Rightmove shares last traded at GBX 511.18, with a volume of 10,644,876 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 665 price target on shares of Rightmove in a report on Monday, August 3rd. UBS Group reissued a "neutral" rating and set a GBX 481 price objective on shares of Rightmove in a report on Tuesday, May 5th. Berenberg Bank restated a "buy" rating and set a GBX 575 price objective on shares of Rightmove in a research report on Monday, August 3rd. Jefferies Financial Group restated an "underperform" rating and issued a GBX 465 target price on shares of Rightmove in a research note on Friday, July 31st. Finally, Citigroup raised their target price on Rightmove from GBX 455 to GBX 486 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of GBX 595.12.

Rightmove Stock Performance

The company has a market capitalization of £3.78 billion, a P/E ratio of 17.87, a PEG ratio of 2.58 and a beta of 0.90. The stock has a fifty day simple moving average of GBX 458.63 and a 200-day simple moving average of GBX 442.36. 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 posted its earnings results on Friday, July 31st. The company reported GBX 15.60 earnings per share for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. Equities analysts forecast that Rightmove plc will post 30.2327791 EPS for the current year.

Rightmove declared that its board has approved a share buyback plan on Friday, July 31st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Rightmove Company Profile

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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