Rightmove (LON:RMV) Price Target Raised to GBX 429

Rightmove (LON:RMV) had its target price lifted by JPMorgan Chase & Co. from GBX 404 to GBX 429 in a report issued on Monday morning, Marketbeat.com reports. The firm currently has an underweight rating on the stock.

RMV has been the topic of several other reports. Citigroup cut their target price on Rightmove from GBX 520 to GBX 455 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Jefferies Financial Group restated an “underperform” rating and set a GBX 465 price objective on shares of Rightmove in a research report on Friday, July 31st. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 575 price objective on shares of Rightmove in a research note on Monday. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 481 target price on shares of Rightmove in a report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of GBX 595.12.

Rightmove Price Performance

Shares of LON:RMV opened at GBX 477.57 on Monday. The firm has a market cap of £3.56 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. The firm’s fifty day moving average is GBX 442.08 and its 200-day moving average is GBX 442.88. 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 has a 52 week low of GBX 391.40 and a 52 week high of GBX 827.

Rightmove (LON:RMV) last issued its quarterly earnings data on Friday, July 31st. The company reported GBX 15.60 earnings per share for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. Sell-side analysts predict that Rightmove will post 30.2327791 earnings per share for the current year.

Rightmove announced that its Board of Directors has approved a stock repurchase plan 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. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Rightmove

In other Rightmove news, insider Lorna Tilbian bought 3,600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of GBX 403 per share, with a total value of £14,508. Also, insider Amanda James bought 6,016 shares of the stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of GBX 413 per share, with a total value of £24,846.08. Company insiders own 0.37% of the company’s stock.

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.