Rightmove plc (LON:RMV) Stock Has Consensus Price Target of GBX 595.12 According to Analysts

Rightmove plc (LON:RMV) has received an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is GBX 595.12.

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 665 price objective on shares of Rightmove in a report on Monday, August 3rd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 575 target price on shares of Rightmove in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a research note on Monday, August 3rd. Citigroup upped their price target on shares of Rightmove from GBX 455 to GBX 486 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 465 price objective on shares of Rightmove in a research note on Tuesday, September 8th.

Rightmove Stock Down 2.9%

RMV opened at GBX 488.04 on Monday. Rightmove has a twelve month low of GBX 391.40 and a twelve month high of GBX 700. The company has a quick ratio of 2.55, a current ratio of 1.53 and a debt-to-equity ratio of 7.35. The company’s 50-day moving average price is GBX 484.04 and its two-hundred day moving average price is GBX 451.89. The stock has a market cap of £3.54 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.58 and a beta of 0.94.

Rightmove (LON:RMV) last posted its earnings results on Friday, July 31st. The company reported GBX 15.60 earnings per share for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. As a group, equities analysts expect that Rightmove will post 30.23 earnings per share for the current year.

Rightmove announced that its Board of Directors has initiated a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.