Rightmove (LON:RMV) Earns Buy Rating from Berenberg Bank

Rightmove (LON:RMV)‘s stock had its “buy” rating restated by equities researchers at Berenberg Bank in a research report issued on Monday,London Stock Exchange reports. They currently have a GBX 575 price objective on the stock. Berenberg Bank’s price target would suggest a potential upside of 22.52% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup cut their price objective on Rightmove from GBX 520 to GBX 455 and set a “neutral” rating for the company in a research report on Thursday, April 9th. UBS Group reaffirmed a “neutral” rating and set a GBX 481 price target on shares of Rightmove in a research note on Tuesday, May 5th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 465 price target on shares of Rightmove in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rightmove from GBX 489 to GBX 404 and set an “underweight” rating for the company in a research note on Tuesday, June 16th. 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 580.71.

Rightmove Stock Performance

LON RMV opened at GBX 469.30 on Monday. The stock has a market capitalization of £3.50 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.58 and a beta of 0.90. The business’s 50 day moving average is GBX 439.74 and its two-hundred day moving average is GBX 443.76. Rightmove has a 12-month low of GBX 391.40 and a 12-month high of GBX 827. 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 (LON:RMV) last posted its quarterly earnings results on Friday, July 31st. The company reported GBX 15.60 EPS for the quarter. Rightmove had a return on equity of 281.32% and a net margin of 49.72%. Research analysts expect that Rightmove will post 30.2327791 EPS for the current year.

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

Insider Buying and Selling

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

Trending Headlines about Rightmove

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

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.