Rightmove plc (LON:RMV – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 442.36 and traded as high as GBX 513.60. Rightmove shares last traded at GBX 511.18, with a volume of 10,644,876 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on RMV shares. UBS Group reissued a “neutral” rating and set a GBX 481 price objective on shares of Rightmove in a report on Tuesday, May 5th. Citigroup boosted their target price on shares of Rightmove from GBX 455 to GBX 486 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 465 target price on shares of Rightmove in a research report on Friday, July 31st. Berenberg Bank reissued a “buy” rating and issued a GBX 575 price target on shares of Rightmove in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a research report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 595.12.
Read Our Latest Research Report on Rightmove
Rightmove Stock Performance
Rightmove (LON:RMV – Get Free Report) last posted its quarterly earnings results 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%. On average, analysts expect that Rightmove plc will post 30.2327791 EPS 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 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
About Rightmove
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.
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