Rightmove (LON:RMV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Rightmove (LON:RMV) had its price target upped by JPMorgan Chase & Co. from GBX 404 to GBX 429 in a research report issued to clients and investors on Monday,London Stock Exchange reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 8.59% from the stock’s previous close.

RMV has been the subject of several other reports. UBS Group reaffirmed a “neutral” rating and issued a GBX 481 price objective on shares of Rightmove in a report on Tuesday, May 5th. Jefferies Financial Group restated an “underperform” rating and issued a GBX 465 price target on shares of Rightmove in a research report on Friday. Berenberg Bank reaffirmed a “buy” rating and set a GBX 575 price objective on shares of Rightmove in a research report on Monday. Finally, Citigroup reduced their price objective on shares of Rightmove from GBX 520 to GBX 455 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 580.71.

Rightmove Stock Up 1.0%

Shares of RMV opened at GBX 469.30 on Monday. 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 has a 12 month low of GBX 391.40 and a 12 month high of GBX 827. The firm’s 50 day moving average is GBX 439.74 and its 200-day moving average is GBX 443.76. The stock has a market capitalization of £3.50 billion, a PE ratio of 16.76, a P/E/G ratio of 2.58 and a beta of 0.90.

Rightmove (LON:RMV) last issued its quarterly 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%. Equities research analysts forecast that Rightmove will post 30.2327791 EPS for the current year.

Rightmove announced that its board has authorized a share repurchase plan on Friday, July 31st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Rightmove

In related news, insider Lorna Tilbian acquired 3,600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of GBX 403 per share, with a total value of £14,508. Also, insider Amanda James bought 6,016 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was bought at an average price of GBX 413 per share, for a total transaction of £24,846.08. Insiders own 0.37% of the company’s stock.

Rightmove News Roundup

Here are the key news stories impacting Rightmove this week:

• Positive Sentiment: Rightmove reported quarterly earnings per share of GBX 15.60, alongside a 51.06% net margin and 264.68% return on equity. The results highlight the company’s strong profitability, although the release did not provide enough detail to assess performance against expectations. Rightmove earnings report
• Positive Sentiment: Rightmove’s shares moved above their 200-day moving average, a technical signal that can attract momentum-oriented investors and suggest improving market sentiment. Rightmove share price passes above 200-day moving average
• Neutral Sentiment: The company announced authorization for a share repurchase program, but the stated plan is to repurchase zero outstanding shares. As a result, it does not currently represent a meaningful return of capital or source of buying support. Rightmove share repurchase announcement
• Negative Sentiment: Rightmove cut its annual revenue-growth forecast, citing weaker new-home construction activity. The revision raises concerns about near-term listing growth and the pace of expansion in the company’s core property-market business. Rightmove cuts annual revenue growth forecast
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and set a GBX 465 price target, indicating limited upside from recently observed trading levels and reinforcing concerns about valuation and growth prospects. Jefferies Rightmove rating

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.