Rightmove (LON:RMV) Price Target Raised to GBX 429 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Rightmove’s price target to GBX 429 from GBX 404 but retained an “underweight” rating, implying 8.59% downside from the previous close.
• Analyst views remain mixed: Rightmove has an overall “Hold” consensus, with three Buy, two Hold and two Sell ratings, while the average price target is GBX 580.71.
• Rightmove reported quarterly EPS of GBX 15.60 and strong profitability, including a 49.72% net margin and 281.32% return on equity; its shares opened at GBX 469.30, up 1.0%.

Rightmove (LON:RMV - Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from GBX 404 to GBX 429 in a research report issued on Monday,London Stock Exchange reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 8.59% from the stock's previous close.

A number of other research analysts also recently commented on the stock. UBS Group reissued a "neutral" rating and issued a GBX 481 price objective on shares of Rightmove in a research report on Tuesday, May 5th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 575 target price on shares of Rightmove in a report on Monday. Citigroup cut their target price on shares of Rightmove from GBX 520 to GBX 455 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Finally, Jefferies Financial Group reiterated an "underperform" rating and set a GBX 465 price target on shares of Rightmove in a report on Friday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Rightmove currently has an average rating of "Hold" and an average price target of GBX 580.71.

Rightmove Stock Up 1.0%

RMV stock opened at GBX 469.30 on Monday. The company has a market cap of £3.50 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 2.58 and a beta of 0.90. Rightmove has a twelve month low of GBX 391.40 and a twelve month high of GBX 827. The business has a 50 day moving average price of GBX 439.74 and a two-hundred day moving average price of GBX 443.76. 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 announced its quarterly earnings data on Friday, July 31st. The company reported GBX 15.60 earnings per share (EPS) for the quarter. Rightmove had a return on equity of 281.32% and a net margin of 49.72%. Analysts anticipate that Rightmove will post 30.2327791 EPS for the current fiscal year.

Rightmove declared that its Board of Directors has authorized a share buyback program on Friday, July 31st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Rightmove

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

Trending Headlines about Rightmove

Here are the key news stories impacting Rightmove this week:

• Positive Sentiment: Rightmove reported quarterly earnings per share of GBX 15.60, alongside a 51.06% net margin and 264.68% return on equity. The results highlight the company’s strong profitability, although the release did not provide enough detail to assess performance against expectations. Rightmove earnings report
• Positive Sentiment: Rightmove’s shares moved above their 200-day moving average, a technical signal that can attract momentum-oriented investors and suggest improving market sentiment. Rightmove share price passes above 200-day moving average
• Neutral Sentiment: The company announced authorization for a share repurchase program, but the stated plan is to repurchase zero outstanding shares. As a result, it does not currently represent a meaningful return of capital or source of buying support. Rightmove share repurchase announcement
• Negative Sentiment: Rightmove cut its annual revenue-growth forecast, citing weaker new-home construction activity. The revision raises concerns about near-term listing growth and the pace of expansion in the company’s core property-market business. Rightmove cuts annual revenue growth forecast
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and set a GBX 465 price target, indicating limited upside from recently observed trading levels and reinforcing concerns about valuation and growth prospects. Jefferies Rightmove rating

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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