Rightmove (LON:RMV) Given New GBX 520 Price Target at Peel Hunt

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Rightmove (LON:RMV) had its target price decreased by research analysts at Peel Hunt from GBX 570 ($7.50) to GBX 520 ($6.84) in a note issued to investors on Friday, ThisIsMoney.Co.Uk reports. The brokerage currently has an “add” rating on the stock. Peel Hunt’s target price points to a potential upside of 6.30% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Deutsche Bank reissued a “hold” rating on shares of Rightmove in a research note on Thursday, March 19th. Royal Bank of Canada boosted their price target on Rightmove from GBX 500 ($6.58) to GBX 550 ($7.23) and gave the company a “sector performer” rating in a report on Tuesday, March 10th. Shore Capital restated a “sell” rating on shares of Rightmove in a report on Thursday, March 19th. Jefferies Financial Group reduced their price target on Rightmove from GBX 500 ($6.58) to GBX 340 ($4.47) and set an “underperform” rating on the stock in a report on Wednesday. Finally, Societe Generale initiated coverage on Rightmove in a report on Tuesday, February 11th. They set a “buy” rating and a GBX 845 ($11.12) price target on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 546 ($7.18).

LON RMV opened at GBX 489.20 ($6.44) on Friday. Rightmove has a 1-year low of GBX 488 ($6.42) and a 1-year high of GBX 588.10 ($7.74). The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 29.53. The stock has a 50-day moving average of GBX 604.10 and a 200-day moving average of GBX 603.96. The firm has a market cap of $3.99 billion and a PE ratio of 25.09.

Rightmove (LON:RMV) last released its earnings results on Friday, February 28th. The company reported GBX 20.20 ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of GBX 19.80 ($0.26) by GBX 0.40 ($0.01). As a group, equities research analysts forecast that Rightmove will post 1971.5232432 earnings per share for the current fiscal year.

In other Rightmove news, insider Andrew Fisher purchased 10,000 shares of Rightmove stock in a transaction that occurred on Monday, March 16th. The shares were bought at an average price of GBX 484 ($6.37) per share, for a total transaction of £48,400 ($63,667.46).

Rightmove Company Profile

Rightmove plc operates property portal in the United Kingdom. The company operates through Agency, New Homes, and Other segments. The Agency segment offers resale and lettings property advertising services on its platforms. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.

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