Royal Bank of Canada Forecasts Strong Price Appreciation for Rightmove (LON:RMV) Stock

Rightmove (LON:RMV) had its price target lifted by equities researchers at Royal Bank of Canada from GBX 630 ($8.01) to GBX 750 ($9.53) in a research report issued to clients and investors on Monday,Digital Look reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 7.27% from the company’s current price.

A number of other analysts have also weighed in on the company. Berenberg Bank reaffirmed a “buy” rating and set a GBX 775 ($9.85) price objective on shares of Rightmove in a research report on Friday, November 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Thursday, December 5th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Rightmove in a research report on Friday, November 8th.

Rightmove Trading Up 4.2 %

LON RMV traded up GBX 28.20 ($0.36) on Monday, reaching GBX 699.20 ($8.89). The stock had a trading volume of 2,520,526 shares, compared to its average volume of 5,207,066. The firm has a market capitalization of £5.45 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 2.58 and a beta of 1.05. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. Rightmove has a 12-month low of GBX 499.20 ($6.34) and a 12-month high of GBX 710 ($9.02). The stock has a fifty day moving average price of GBX 654 and a two-hundred day moving average price of GBX 633.58.

Rightmove (LON:RMV) last posted its quarterly earnings data on Friday, February 28th. The company reported GBX 12.80 ($0.16) earnings per share for the quarter. Rightmove had a return on equity of 293.54% and a net margin of 52.69%. As a group, sell-side analysts forecast that Rightmove will post 30.2327791 EPS for the current fiscal year.

About Rightmove

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.