Rightmove (LON:RMV) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Rightmove shares rose above their 200-day moving average, trading as high as GBX 497.90 and last changing hands at GBX 491, compared with the GBX 442.02 average.
• Analyst sentiment remains mixed, with four Buy, two Hold and two Sell ratings; the overall consensus is “Hold”, with a GBX 595.12 price target.
• Rightmove reported quarterly EPS of GBX 15.60, a 49.72% net margin and 281.32% return on equity. Insiders also purchased shares in May, while the company announced a buyback authorization to repurchase zero shares.

Rightmove plc (LON:RMV - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 442.02 and traded as high as GBX 497.90. Rightmove shares last traded at GBX 491, with a volume of 4,654,314 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMV. Citigroup upped their target price on shares of Rightmove from GBX 455 to GBX 486 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 465 price target on shares of Rightmove in a research note on Friday, July 31st. UBS Group reissued a "neutral" rating and issued a GBX 481 price objective on shares of Rightmove in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price objective on Rightmove from GBX 404 to GBX 429 and gave the company an "underweight" rating in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 665 target price on shares of Rightmove in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Rightmove currently has an average rating of "Hold" and a consensus price target of GBX 595.12.

Rightmove Stock Performance

The stock has a market cap of £3.63 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. The firm's 50 day simple moving average is GBX 447.37 and its two-hundred day simple moving average is GBX 442.02. 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 posted 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%. As a group, equities research analysts predict that Rightmove plc will post 30.2327791 earnings per share for the current fiscal year.

Rightmove declared that its board has initiated a share buyback plan on Friday, July 31st that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Lorna Tilbian bought 3,600 shares of the company'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 bought 6,016 shares of the business's stock in a transaction on Thursday, May 21st. The stock was bought at an average price of GBX 413 per share, for a total transaction of £24,846.08. 0.42% of the stock is owned by corporate 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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