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

Key Points

• Deutsche Bank reaffirmed its “buy” rating on Rightmove and set a GBX 665 price target, implying 40.56% upside from the prior close.
• Analyst views remain mixed: four rate the stock a buy, two hold, and two sell. MarketBeat’s consensus is “hold,” with an average target price of GBX 591.25.
• Rightmove shares opened 1.8% higher at GBX 473.10, while the company reported quarterly EPS of GBX 15.60 and strong profitability, including a 49.72% net margin.

Rightmove (LON:RMV - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Deutsche Bank Aktiengesellschaft in a research report issued on Monday,London Stock Exchange reports. They presently have a GBX 665 target price on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 40.56% from the stock's previous close.

A number of other brokerages have also commented on RMV. Berenberg Bank restated a "buy" rating and issued a GBX 575 target price on shares of Rightmove in a research note on Monday. Jefferies Financial Group reaffirmed an "underperform" rating and set a GBX 465 price objective on shares of Rightmove in a report on Friday. JPMorgan Chase & Co. boosted their price target on Rightmove from GBX 404 to GBX 429 and gave the company an "underweight" rating in a research note on Monday. UBS Group restated a "neutral" rating and issued a GBX 481 target price on shares of Rightmove in a research note on Tuesday, May 5th. Finally, Citigroup reduced their price target on shares of Rightmove from GBX 520 to GBX 455 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of GBX 591.25.

Rightmove Stock Up 1.8%

LON RMV opened at GBX 473.10 on Monday. Rightmove has a twelve month low of GBX 391.40 and a twelve month high of GBX 827. The stock has a market cap of £3.53 billion, a PE ratio of 16.90, a PEG ratio of 2.58 and a beta of 0.90. The firm has a 50-day simple moving average of GBX 439.74 and a 200 day simple moving average of GBX 443.76. The company has a debt-to-equity ratio of 7.35, a quick ratio of 2.55 and a current ratio of 1.53.

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 return on equity of 281.32% and a net margin of 49.72%. On average, research analysts forecast that Rightmove will post 30.2327791 EPS for the current year.

Rightmove declared that its Board of Directors has authorized a share repurchase program on Friday, July 31st that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Rightmove

In related news, insider Amanda James bought 6,016 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was purchased at an average price of GBX 413 per share, with a total value of £24,846.08. Also, insider Lorna Tilbian acquired 3,600 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of GBX 403 per share, with a total value of £14,508. 0.37% of the stock is owned by company 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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