Rightmove (LON:RMV) Hits New 12-Month High After Analyst Upgrade

Key Points

• Rightmove plc shares reached a new 52-week high of GBX 801.40 following an upgrade from Royal Bank of Canada, which raised its price target from GBX 750 to GBX 805.
• JPMorgan Chase & Co. maintains an "underweight" rating on the stock with a lower price target set at GBX 625, while the overall consensus rating remains a "Moderate Buy" with a price target of GBX 772.
• Rightmove reported a strong net margin of 52.69% and a return on equity of 293.54% in its latest quarterly earnings, indicating robust profitability and efficiency in operations.

Rightmove plc (LON:RMV - Get Free Report) hit a new 52-week high during trading on Tuesday after Berenberg Bank raised their price target on the stock from GBX 795 to GBX 850. Berenberg Bank currently has a buy rating on the stock. Rightmove traded as high as GBX 801.40 ($10.59) and last traded at GBX 801.20 ($10.58), with a volume of 5638142 shares traded. The stock had previously closed at GBX 787.60 ($10.40).

A number of other equities analysts also recently commented on RMV. Royal Bank Of Canada raised their price objective on Rightmove from GBX 750 ($9.91) to GBX 805 ($10.63) and gave the stock a "sector perform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 815 ($10.77) price target on shares of Rightmove in a research note on Monday. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a GBX 625 ($8.26) price objective on shares of Rightmove in a research note on Wednesday, July 9th. Finally, Peel Hunt restated a "buy" rating and issued a GBX 840 ($11.10) price objective on shares of Rightmove in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 787 ($10.40).

Rightmove Trading Down 0.8%

The firm's 50-day simple moving average is GBX 774.61 and its 200 day simple moving average is GBX 719.74. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The stock has a market capitalization of £6.33 billion, a P/E ratio of 32.58, a PEG ratio of 2.58 and a beta of 1.05.

Rightmove (LON:RMV - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported GBX 14.70 ($0.19) EPS for the quarter. Rightmove had a return on equity of 293.54% and a net margin of 52.69%. Equities research analysts anticipate that Rightmove plc will post 30.2327791 EPS for the current fiscal year.

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.