Credit Suisse Group Boosts Rightmove (LON:RMV) Price Target to GBX 4,250

Rightmove (LON:RMV) had its price objective lifted by equities researchers at Credit Suisse Group from GBX 4,150 ($57.34) to GBX 4,250 ($58.72) in a research note issued on Monday, February 26th. The brokerage currently has a “neutral” rating on the stock.

Several other equities research analysts also recently weighed in on RMV. Peel Hunt reaffirmed a “hold” rating and issued a GBX 4,000 ($55.26) price target on shares of Rightmove in a research note on Friday, November 3rd. Deutsche Bank restated a “hold” rating on shares of Rightmove in a report on Wednesday, January 31st. Liberum Capital restated a “buy” rating and set a GBX 5,000 ($69.08) price target on shares of Rightmove in a report on Monday, January 15th. Jefferies Group reiterated a “hold” rating and issued a GBX 4,000 ($55.26) target price on shares of Rightmove in a research note on Monday, November 27th. Finally, Barclays boosted their target price on shares of Rightmove from GBX 3,700 ($51.12) to GBX 4,000 ($55.26) and gave the company an “underweight” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 4,435.25 ($61.28).

Rightmove (LON:RMV) traded down GBX 8 ($0.11) during midday trading on Monday, hitting GBX 4,250 ($58.72). 201,916 shares of the company traded hands, compared to its average volume of 285,531. Rightmove has a twelve month low of GBX 3,846 ($53.14) and a twelve month high of GBX 4,595 ($63.48). The firm has a market cap of $3,870.00 and a price-to-earnings ratio of 2,741.94.

Rightmove (LON:RMV) last issued its quarterly earnings results on Friday, February 23rd. The company reported GBX 163.30 ($2.26) EPS for the quarter, topping analysts’ consensus estimates of GBX 160.70 ($2.22) by GBX 2.60 ($0.04). Rightmove had a net margin of 59.28% and a return on equity of 1,086.69%. The company had revenue of £243.27 million for the quarter.

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About Rightmove

Rightmove plc is a United Kingdom-based company, which operates as a property portal. The Company’s principal business is the operation of the Website. The Company’s Website and mobile platforms provide online property search. The Company’s segments include Agency, New Homes and Other.

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