Rightmove (LON:RMV) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Rightmove shares rose above their 200-day moving average, reaching GBX 487.90 and trading 0.7% higher, with unusually high volume of about 119.2 million shares.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating, while recent price-target cuts from JPMorgan and Citigroup contrast with an average target of GBX 607.14.
• Insiders recently bought shares, including purchases by Amanda James and Lorna Tilbian at GBX 413 and GBX 403, respectively, suggesting some internal confidence in the company’s valuation.

Shares of Rightmove plc (LON:RMV - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 444.45 and traded as high as GBX 487.90. Rightmove shares last traded at GBX 487.90, with a volume of 119,161,695 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RMV shares. JPMorgan Chase & Co. lowered their price objective on shares of Rightmove from GBX 489 to GBX 404 and set an "underweight" rating for the company in a research report on Tuesday, June 16th. Citigroup decreased their price target 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, UBS Group reissued a "neutral" rating and issued a GBX 481 price objective on shares of Rightmove in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of GBX 607.14.

Rightmove Trading Up 0.7%

The company has a quick ratio of 2.55, a current ratio of 1.89 and a debt-to-equity ratio of 8.73. The stock's 50 day moving average price is GBX 438.15 and its 200-day moving average price is GBX 444.45. The stock has a market capitalization of £3.64 billion, a P/E ratio of 17.42, a P/E/G ratio of 2.58 and a beta of 0.90.

Insiders Place Their Bets

In related news, insider Amanda James bought 6,016 shares of the 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. Also, insider Lorna Tilbian bought 3,600 shares of the company's stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of GBX 403 per share, for a total transaction of £14,508. 0.37% 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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