Moonpig Group (LON:MOON) Price Target Cut to GBX 300 by Analysts at Canaccord Genuity Group

Moonpig Group (LON:MOON) had its target price decreased by equities research analysts at Canaccord Genuity Group from GBX 310 to GBX 300 in a research note issued on Friday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 32.51% from the stock’s current price.

Several other analysts have also issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a GBX 315 price objective on shares of Moonpig Group in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Moonpig Group from GBX 275 to GBX 285 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 300 price objective on shares of Moonpig Group in a research report on Thursday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Moonpig Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 299.29.

Moonpig Group Stock Performance

Shares of Moonpig Group stock traded down GBX 3.20 during trading on Friday, hitting GBX 226.40. 2,558,610 shares of the stock were exchanged, compared to its average volume of 5,419,644. The company has a current ratio of 0.30, a quick ratio of 0.46 and a debt-to-equity ratio of -271.84. The company has a fifty day moving average price of GBX 214.96 and a 200-day moving average price of GBX 211.94. The stock has a market capitalization of £678.94 million, a price-to-earnings ratio of 16.41 and a beta of 0.97. Moonpig Group has a 1-year low of GBX 190.20 and a 1-year high of GBX 250.60.

Moonpig Group announced that its Board of Directors has initiated a share buyback program on Thursday, May 7th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Key Stories Impacting Moonpig Group

Here are the key news stories impacting Moonpig Group this week:

• Positive Sentiment: Moonpig reported higher profit, revenue, and orders for the full year, with management also boosting the dividend and outlining a new share buyback plan. Moonpig lifts dividend as FY profits, revenue rise
• Positive Sentiment: Investors are also reacting to comments that the results make Moonpig’s shares look “crazy cheap,” reinforcing the view that the stock may still be undervalued after the rally. Moonpig results show its shares are ‘crazy cheap’, say brokers
• Positive Sentiment: Broker upgrades and reiterated “buy” ratings from firms including Jefferies and Berenberg, with price targets up to GBX 315, add more support for the stock. Moonpig boosts dividend and plans new buyback as profit beats forecast

About Moonpig Group

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.