Moonpig Group PLC (LON:MOON – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 253 and last traded at GBX 248.20, with a volume of 28250 shares trading hands. The stock had previously closed at GBX 250.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Canaccord Genuity Group decreased their target price on Moonpig Group from GBX 310 to GBX 300 and set a “buy” rating for the company in a research report on Friday, June 26th. Jefferies Financial Group reissued a “buy” rating and set a GBX 315 price target on shares of Moonpig Group in a research report on Thursday, June 25th. Berenberg Bank restated a “buy” rating and set a GBX 300 price target on shares of Moonpig Group in a research note on Thursday, June 25th. JPMorgan Chase & Co. upped their price objective on shares of Moonpig Group from GBX 275 to GBX 285 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 235 target price on shares of Moonpig Group in a report on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 299.29.
Read Our Latest Research Report on Moonpig Group
Moonpig Group Price Performance
Moonpig Group declared that its board has approved a stock buyback program on Thursday, May 7th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
About Moonpig Group
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.
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