Rightmove (LON:RMV) Shares Cross Above 200-Day Moving Average – What’s Next?

Rightmove plc (LON:RMV)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 454.45 and traded as high as GBX 534.80. Rightmove shares last traded at GBX 516.20, with a volume of 402,833,938 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RMV shares. Jefferies Financial Group restated a “hold” rating and issued a GBX 465 price target on shares of Rightmove in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 665 price objective on shares of Rightmove in a research report on Monday, August 3rd. Berenberg Bank reissued a “buy” rating and set a GBX 575 price objective on shares of Rightmove in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a research note on Monday, August 3rd. Finally, Citigroup upped their target price on Rightmove from GBX 455 to GBX 486 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 595.12.

Rightmove Stock Performance

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 firm has a 50-day moving average price of GBX 487.59 and a 200 day moving average price of GBX 455.04. The firm has a market capitalization of £3.91 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94.

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

Rightmove declared that its board has authorized a stock repurchase plan on Friday, July 31st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Rightmove Company Profile

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.