Rightmove (LON:RMV) Stock Price Target Raised at Berenberg Bank

Rightmove (LON:RMV) had its price objective boosted by investment analysts at Berenberg Bank from GBX 575 to GBX 665 in a note issued to investors on Monday, Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank‘s target price points to a potential upside of 17.20% from the stock’s previous close.

RMV has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 665 price objective on shares of Rightmove in a research report on Monday, August 3rd. Jefferies Financial Group restated a “hold” rating and issued a GBX 465 target price on shares of Rightmove in a research report on Tuesday, September 8th. JPMorgan Chase & Co. raised their price target on shares of Rightmove from GBX 404 to GBX 429 and gave the company an “underweight” rating in a research note on Monday, August 3rd. Finally, Citigroup lifted their price target on Rightmove from GBX 455 to GBX 486 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 566.57.

Rightmove Stock Up 2.2%

Rightmove stock opened at GBX 567.40 on Monday. The company has a 50-day simple moving average of GBX 498.37 and a 200-day simple moving average of GBX 460.48. The firm has a market capitalization of £4.08 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.58 and a beta of 0.99. The company has a debt-to-equity ratio of 7.35, a quick ratio of 2.55 and a current ratio of 1.53. Rightmove has a one year low of GBX 391.40 and a one year high of GBX 577.

Rightmove declared that its board has initiated a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Rightmove

In related news, insider Rosemary Leith acquired 2,300 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were acquired at an average price of GBX 542 per share, for a total transaction of £12,466. 0.43% of the stock is owned by corporate insiders.

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.