Moonpig Group (LON:MOON) Hits New 1-Year High – Here’s Why

Moonpig Group PLC (LON:MOON)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 274 and last traded at GBX 265.59, with a volume of 17958 shares traded. The stock had previously closed at GBX 267.

Analysts Set New Price Targets

MOON has been the topic of a number of recent analyst reports. Canaccord Genuity Group dropped their price target on shares of Moonpig Group from GBX 310 to GBX 300 and set a “buy” rating on the stock in a research report on Friday, June 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 315 price objective on shares of Moonpig Group in a report on Thursday, June 25th. Berenberg Bank reiterated a “buy” rating and issued a GBX 300 target price on shares of Moonpig Group in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 235 target price on shares of Moonpig Group in a research note on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 299.29.

Moonpig Group Trading Up 0.4%

The company has a debt-to-equity ratio of -216.13, a quick ratio of 0.46 and a current ratio of 0.21. The company has a 50-day simple moving average of GBX 234.14 and a 200 day simple moving average of GBX 219.90. The company has a market capitalization of £776.12 million, a P/E ratio of 16.73 and a beta of 0.95.

Moonpig Group announced that its board has authorized a stock repurchase plan on Thursday, May 7th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Moonpig Group Company Profile

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.