Moonpig Group (LON:MOON) Reaches New 52-Week High – Here’s Why

Moonpig Group PLC (LON:MOON) shares hit a new 52-week high during trading on Friday . The stock traded as high as GBX 270.80 and last traded at GBX 270, with a volume of 167830 shares. The stock had previously closed at GBX 269.20.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MOON shares. Canaccord Genuity Group lowered their target price on Moonpig Group from GBX 310 to GBX 300 and set a “buy” rating on the stock in a report on Friday, June 26th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 315 price objective on shares of Moonpig Group in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised their price objective on shares of Moonpig Group from GBX 275 to GBX 285 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 target price on shares of Moonpig Group in a report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 235 price target on shares of Moonpig Group in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Moonpig Group currently has an average rating of “Moderate Buy” and an average target price of GBX 299.29.

Moonpig Group Stock Up 0.1%

The firm has a market cap of £801.56 million, a P/E ratio of 17.28 and a beta of 0.95. The company has a current ratio of 0.21, a quick ratio of 0.46 and a debt-to-equity ratio of -216.13. The business has a 50-day moving average price of GBX 227.35 and a 200-day moving average price of GBX 217.35.

Moonpig Group declared that its board has initiated a stock repurchase plan on Thursday, May 7th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Moonpig Group Company Profile

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.