Rightmove's (RMV) "Buy" Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg reaffirmed its “Buy” rating on Rightmove and set a GBX 575 price target, implying 22.52% upside from the reported GBX 469.30 price.
• Analyst opinion remains mixed: three analysts rate the stock Buy, two Hold and two Sell, resulting in a consensus “Hold” rating and an average target of GBX 580.71.
• Rightmove reported GBX 15.60 quarterly EPS and strong profitability, but weaker new-home construction led the company to cut its annual revenue-growth forecast, creating near-term concerns for growth.

Rightmove (LON:RMV - Get Free Report)'s stock had its "buy" rating reiterated by Berenberg Bank in a report issued on Monday,London Stock Exchange reports. They presently have a GBX 575 price target on the stock. Berenberg Bank's price target indicates a potential upside of 22.52% from the company's current price.

A number of other equities research analysts have also recently weighed in on RMV. Jefferies Financial Group reissued an "underperform" rating and issued a GBX 465 price target on shares of Rightmove in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on Rightmove from GBX 489 to GBX 404 and set an "underweight" rating on the stock in a report on Tuesday, June 16th. UBS Group reiterated a "neutral" rating and set a GBX 481 target price on shares of Rightmove in a research report on Tuesday, May 5th. Finally, Citigroup reduced their target price on Rightmove from GBX 520 to GBX 455 and set a "neutral" rating for the company in a report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus 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 stock has a market cap of £3.50 billion, a P/E ratio of 16.76, a PEG ratio of 2.58 and a beta of 0.90. The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35. Rightmove has a twelve month low of GBX 391.40 and a twelve month high of GBX 827. The company's 50 day moving average is GBX 439.74 and its two-hundred day moving average is GBX 443.76.

Rightmove (LON:RMV - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported GBX 15.60 earnings per share (EPS) for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. Research analysts expect that Rightmove 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 repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity at Rightmove

In other news, insider Amanda James acquired 6,016 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of GBX 413 per share, for a total transaction of £24,846.08. Also, insider Lorna Tilbian acquired 3,600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of GBX 403 per share, for a total transaction of £14,508. 0.37% of the stock is owned by corporate insiders.

Key Rightmove News

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.