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

Key Points

• Rightmove shares rose above their 200-day moving average of GBX 445.23, reaching GBX 507.80 before last trading at GBX 498.40 on substantial volume.
• Analyst views remain mixed: the consensus rating is “Hold”, with an average target price of GBX 595.12. Targets range from GBX 465 at Jefferies to GBX 665 at Deutsche Bank.
• Rightmove reported quarterly EPS of GBX 15.60, a 49.72% net margin and 281.32% return on equity; analysts expect full-year EPS of about 30.23 pence.

Rightmove plc (LON:RMV - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 445.23 and traded as high as GBX 507.80. Rightmove shares last traded at GBX 498.40, with a volume of 3,377,398 shares changing hands.

Analyst Ratings Changes

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

Rightmove Stock Performance

The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35. The stock has a fifty day moving average price of GBX 468.75 and a 200-day moving average price of GBX 445.23. The firm has a market capitalization of £3.68 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.58 and a beta of 0.90.

Rightmove (LON:RMV - Get Free Report) last announced its 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%. As a group, analysts anticipate that Rightmove plc will post 30.2327791 earnings per share for the current fiscal year.

Rightmove announced that its Board of Directors has authorized a stock buyback program on Friday, July 31st that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is 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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