Rightmove (LON:RMV) Stock Price Up 8.9% - What's Next?

Key Points

• Rightmove shares jumped 8.9% to GBX 502.60 in mid-day trading, reaching as high as GBX 532.80, though trading volume was 78% below its average.
• Analyst views remain mixed: four rate the stock a Buy, three Hold, and one Sell. The consensus price target is GBX 595.12, with individual targets ranging from GBX 429 to GBX 665.
• 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 approximately GBX 30.23.

Shares of Rightmove plc (LON:RMV - Get Free Report) were up 8.9% during mid-day trading on Thursday. The company traded as high as GBX 532.80 and last traded at GBX 502.60. 6,900,926 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 32,088,566 shares. The stock had previously closed at GBX 461.50.

Analysts Set New Price Targets

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

Rightmove Stock Performance

The firm has a fifty day moving average of GBX 482.91 and a 200-day moving average of GBX 451.14. The company has a quick ratio of 2.55, a current ratio of 1.53 and a debt-to-equity ratio of 7.35. The firm has a market cap of £3.64 billion, a P/E ratio of 17.57, a PEG ratio of 2.58 and a beta of 0.91.

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

Rightmove announced that its Board of Directors has approved a share repurchase program on Friday, July 31st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership 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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