Rightmove (LON:RMV) Price Target Raised to GBX 486 at Citigroup

Rightmove (LON:RMV) had its price target raised by Citigroup from GBX 455 to GBX 486 in a report released on Wednesday,Digital Look reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 2.25% from the stock’s current price.

RMV has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 665 price target on shares of Rightmove in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a report on Monday. Berenberg Bank restated a “buy” rating and set a GBX 575 price objective on shares of Rightmove in a report on Monday. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 465 price objective on shares of Rightmove in a research report on Friday, July 31st. Finally, UBS Group reaffirmed a “neutral” rating and issued a GBX 481 target price on shares of Rightmove in a research note 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 595.12.

Rightmove Trading Up 0.1%

LON:RMV opened at GBX 475.30 on Wednesday. Rightmove has a fifty-two week low of GBX 391.40 and a fifty-two week high of GBX 827. The company has a debt-to-equity ratio of 7.35, a current ratio of 1.53 and a quick ratio of 2.55. The stock has a market capitalization of £3.54 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. The business’s 50-day simple moving average is GBX 441.06 and its 200-day simple moving average is GBX 443.16.

Rightmove (LON:RMV) last posted 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%. Sell-side analysts expect that Rightmove will post 30.2327791 earnings per share for the current fiscal year.

Rightmove announced that its board has approved a stock buyback plan on Friday, July 31st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

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

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.