Rightmove’s (RMV) “Underperform” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group restated their underperform rating on shares of Rightmove (LON:RMV) in a research report report published on Friday,Digital Look reports. They currently have a GBX 465 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup lowered their price objective on shares of Rightmove from GBX 520 to GBX 455 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. UBS Group reaffirmed a “neutral” rating and issued a GBX 481 price target on shares of Rightmove in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Rightmove from GBX 489 to GBX 404 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Rightmove currently has an average rating of “Hold” and an average target price of GBX 607.14.

Rightmove Stock Up 1.7%

Rightmove stock opened at GBX 464.60 on Friday. Rightmove has a fifty-two week low of GBX 391.40 and a fifty-two week high of GBX 827. The firm has a market capitalization of £3.46 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. The stock’s fifty day moving average is GBX 439.74 and its two-hundred day moving average is GBX 444.26. The company has a debt-to-equity ratio of 8.73, a quick ratio of 2.55 and a current ratio of 1.89.

Rightmove (LON:RMV) last released its quarterly earnings results on Friday, July 31st. The company reported GBX 15.60 earnings per share (EPS) for the quarter. Rightmove had a return on equity of 264.68% and a net margin of 51.06%. Analysts predict that Rightmove will post 30.2327791 EPS for the current fiscal year.

Rightmove declared that its board has authorized a share buyback program on Friday, July 31st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Rightmove

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

Key Rightmove News

Here are the key news stories impacting Rightmove this week:

• Positive Sentiment: Rightmove reported quarterly earnings per share of GBX 15.60, alongside a 51.06% net margin and 264.68% return on equity. The results highlight the company’s strong profitability, although the release did not provide enough detail to assess performance against expectations. Rightmove earnings report
• Positive Sentiment: Rightmove’s shares moved above their 200-day moving average, a technical signal that can attract momentum-oriented investors and suggest improving market sentiment. Rightmove share price passes above 200-day moving average
• Neutral Sentiment: The company announced authorization for a share repurchase program, but the stated plan is to repurchase zero outstanding shares. As a result, it does not currently represent a meaningful return of capital or source of buying support. Rightmove share repurchase announcement
• Negative Sentiment: Rightmove cut its annual revenue-growth forecast, citing weaker new-home construction activity. The revision raises concerns about near-term listing growth and the pace of expansion in the company’s core property-market business. Rightmove cuts annual revenue growth forecast
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and set a GBX 465 price target, indicating limited upside from recently observed trading levels and reinforcing concerns about valuation and growth prospects. Jefferies Rightmove rating

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. 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.