Rightmove (LON:RMV) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Rightmove plc (LON:RMV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 450.14 and traded as high as GBX 507.80. Rightmove shares last traded at GBX 499.20, with a volume of 3,774,593 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on RMV shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 665 price target on shares of Rightmove in a research note on Monday, August 3rd. Berenberg Bank restated a “buy” rating and set a GBX 575 target price on shares of Rightmove in a research report on Monday, August 3rd. Citigroup lifted their price target on shares of Rightmove from GBX 455 to GBX 486 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price target on Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 465 price objective on shares of Rightmove in a report on Tuesday, September 8th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 595.12.

Rightmove Price Performance

The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35. The firm has a market cap of £3.58 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.58 and a beta of 0.91. The company’s 50-day moving average is GBX 480.31 and its 200-day moving average is GBX 450.41.

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

Rightmove declared that its board has initiated a share buyback plan on Friday, July 31st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.