Moonpig Group (LON:MOON) Hits New 1-Year High – What’s Next?

Moonpig Group PLC (LON:MOON) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 269.40 and last traded at GBX 265.40, with a volume of 1563235 shares changing hands. The stock had previously closed at GBX 261.60.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Moonpig Group from GBX 310 to GBX 300 and set a “buy” rating for the company in a research note on Friday, June 26th. Jefferies Financial Group restated a “buy” rating and issued a GBX 315 price objective on shares of Moonpig Group in a report on Thursday, June 25th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 price objective on shares of Moonpig Group in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 235 target price on shares of Moonpig Group in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Moonpig Group from GBX 275 to GBX 285 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 299.29.

Moonpig Group Stock Performance

The firm has a 50 day moving average price of GBX 220.63 and a 200-day moving average price of GBX 214.58. The company has a debt-to-equity ratio of -216.13, a current ratio of 0.21 and a quick ratio of 0.46. The firm has a market capitalization of £765.88 million, a price-to-earnings ratio of 16.51 and a beta of 0.95.

Moonpig Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Moonpig Group

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.