Rightmove (LON:RMV) Given New GBX 486 Price Target at Citigroup

Key Points

• Citigroup raised Rightmove’s price target to GBX 486 from GBX 455 while maintaining a “neutral” rating, implying 2.25% upside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of GBX 595.12; targets range 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. The shares opened at GBX 475.30, with a market capitalization of approximately £3.54 billion.

Rightmove (LON:RMV - Get Free Report) had its price target lifted by equities research analysts at Citigroup from GBX 455 to GBX 486 in a research note issued on Wednesday,Digital Look reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price suggests a potential upside of 2.25% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Rightmove from GBX 404 to GBX 429 and gave the company an "underweight" rating in a research note on Monday. Jefferies Financial Group reiterated an "underperform" rating and set a GBX 465 target price on shares of Rightmove in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 665 price target on shares of Rightmove in a research note on Monday. UBS Group restated a "neutral" rating and issued a GBX 481 price target on shares of Rightmove in a research report on Tuesday, May 5th. Finally, Berenberg Bank reaffirmed a "buy" rating and set a GBX 575 price objective on shares of Rightmove in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of GBX 595.12.

Rightmove Stock Performance

Rightmove stock opened at GBX 475.30 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35. Rightmove has a 1 year low of GBX 391.40 and a 1 year high of GBX 827. The company has a market cap of £3.54 billion, a PE ratio of 16.62, a PEG ratio of 2.58 and a beta of 0.90. The company's 50-day moving average is GBX 441.06 and its two-hundred day moving average is GBX 443.16.

Rightmove (LON:RMV - Get Free Report) last issued its quarterly 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%. Equities analysts anticipate that Rightmove will post 30.2327791 earnings per share for the current year.

Rightmove declared that its board has authorized a stock repurchase program on Friday, July 31st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Rightmove

In other news, insider Lorna Tilbian bought 3,600 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of GBX 403 per share, with a total value of £14,508. Also, insider Amanda James bought 6,016 shares of the business's stock in a transaction on Thursday, May 21st. The stock was purchased at an average price of GBX 413 per share, for a total transaction of £24,846.08. 0.37% of the stock is owned by company insiders.

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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