Rightmove (LON:RMV) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Rightmove plc's share price surpassed its 200-day moving average at GBX 739.43, reaching a high of GBX 753.20 before settling at GBX 743.20.
• Analysts have mixed ratings on Rightmove, with a consensus recommendation of "Moderate Buy" and a price target averaging GBX 787.40.
• The company reported earnings of GBX 14.70 per share and a notably high net margin of 52.69% in its latest quarterly results.

Rightmove plc (LON:RMV - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 739.43 ($9.94) and traded as high as GBX 753.20 ($10.12). Rightmove shares last traded at GBX 743.20 ($9.99), with a volume of 1,216,812 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Peel Hunt reissued a "buy" rating and issued a GBX 840 price target on shares of Rightmove in a research note on Friday, July 25th. Berenberg Bank lifted their price objective on Rightmove from GBX 795 to GBX 850 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 815 target price on shares of Rightmove in a research note on Monday, July 28th. Royal Bank Of Canada upped their price target on Rightmove from GBX 750 to GBX 805 and gave the company a "sector perform" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a GBX 627 price objective on shares of Rightmove in a report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rightmove currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 787.40.

Rightmove Trading Up 2.4%

The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The business's 50-day simple moving average is GBX 780.41 and its 200-day simple moving average is GBX 740.39. The company has a market cap of £5.66 billion, a price-to-earnings ratio of 2,821.54, a PEG ratio of 2.58 and a beta of 1.05.

Rightmove (LON:RMV - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported GBX 14.70 earnings per share for the quarter. Rightmove had a return on equity of 293.54% and a net margin of 52.69%. Research analysts predict that Rightmove plc will post 30.2327791 earnings per share 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.