Rightmove (LON:RMV) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Rightmove plc (LON:RMV)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 442.02 and traded as high as GBX 497.90. Rightmove shares last traded at GBX 491, with a volume of 4,654,314 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RMV shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 575 price objective on shares of Rightmove in a research note on Monday, August 3rd. Jefferies Financial Group reissued an “underperform” rating and set a GBX 465 target price on shares of Rightmove in a research note on Friday, July 31st. JPMorgan Chase & Co. boosted their price target on Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a report on Monday, August 3rd. Citigroup upped their price target on Rightmove from GBX 455 to GBX 486 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, UBS Group reaffirmed a “neutral” rating and set a GBX 481 price objective on shares of Rightmove in a report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of GBX 595.12.

Rightmove Stock Performance

The firm’s 50 day simple moving average is GBX 448.45 and its 200 day simple moving average is GBX 441.93. The firm has a market cap of £3.75 billion, a PE ratio of 17.75, 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 (LON:RMV) 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 return on equity of 281.32% and a net margin of 49.72%. On average, research analysts forecast that Rightmove plc will post 30.2327791 EPS for the current fiscal year.

Rightmove announced that its Board of Directors has authorized a stock buyback program on Friday, July 31st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Amanda James acquired 6,016 shares of the stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of GBX 413 per share, with a total value of £24,846.08. Also, insider Lorna Tilbian purchased 3,600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of GBX 403 per share, for a total transaction of £14,508. Insiders own 0.42% 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.