Rightmove’s (RMV) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Rightmove (LON:RMV) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have a GBX 575 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. UBS Group restated a “neutral” rating and issued a GBX 481 price target on shares of Rightmove in a research report on Tuesday, May 5th. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 465 price objective on shares of Rightmove in a research note on Friday, July 31st. Citigroup decreased their price objective on Rightmove from GBX 520 to GBX 455 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. lowered their target price on Rightmove from GBX 489 to GBX 404 and set an “underweight” rating on the stock in a research note on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 595.12.

Rightmove Stock Up 0.6%

RMV stock opened at GBX 477.57 on Monday. The company has a fifty day moving average price of GBX 442.08 and a 200 day moving average price of GBX 442.88. Rightmove has a 12 month low of GBX 391.40 and a 12 month high of GBX 827. The company has a market cap of £3.56 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. The company has a debt-to-equity ratio of 7.35, a current ratio of 1.53 and a quick ratio of 2.55.

Rightmove (LON:RMV) last issued its quarterly 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%. Sell-side analysts expect that Rightmove will post 30.2327791 earnings per share for the current year.

Rightmove announced that its board has approved a stock buyback program on Friday, July 31st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Lorna Tilbian purchased 3,600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of GBX 403 per share, with a total value of £14,508. Also, insider Amanda James acquired 6,016 shares of Rightmove stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of GBX 413 per share, with a total value of £24,846.08. 0.37% of the stock is owned by insiders.

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.