Rightmove (LON:RMV) Price Target Raised to GBX 665

Rightmove (LON:RMV) had its target price upped by Berenberg Bank from GBX 575 to GBX 665 in a research note issued to investors on Monday,Digital Look reports. Berenberg Bank currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. Deutsche Bank reissued a “buy” rating and set a GBX 665 target price on shares of Rightmove in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 465 price target on shares of Rightmove in a research note on Tuesday, September 8th. Citigroup lifted their price target on Rightmove from GBX 455 to GBX 486 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on Rightmove from GBX 404 to GBX 429 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 531.83.

Rightmove Stock Up 0.2%

RMV stock opened at GBX 559.40 on Monday. Rightmove has a 52 week low of GBX 391.40 and a 52 week high of GBX 574.83. The company has a market capitalization of £4.03 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.58 and a beta of 0.99. The firm’s 50-day moving average is GBX 501.70 and its two-hundred day moving average is GBX 461.37. The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35.

Rightmove declared that its board has authorized a stock buyback plan on Friday, July 31st that allows the company to repurchase outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Rightmove

In other Rightmove news, insider Rosemary Leith acquired 2,300 shares of the stock in a transaction dated Wednesday, October 21st. The shares were bought at an average price of GBX 542 per share, with a total value of £12,466. Company insiders own 0.43% of the company’s stock.

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.