Moonpig Group (LON:MOON) Hits New 52-Week High – Still a Buy?

Moonpig Group PLC (LON:MOON) hit a new 52-week high during trading on Thursday . The company traded as high as GBX 250.60 and last traded at GBX 245.20, with a volume of 1789344 shares trading hands. The stock had previously closed at GBX 217.15.

Trending Headlines about Moonpig Group

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

• Positive Sentiment: Moonpig reported full-year results showing profit, revenue, and dividend growth, with several outlets highlighting the shares as undervalued after the update. Moonpig shares surge 18% as profit, revenue and dividend all rise
• Positive Sentiment: The company boosted its dividend and announced a new buyback plan after profit beat forecasts, which is typically supportive for the stock. Moonpig boosts dividend and plans new buyback as profit beats forecast
• Positive Sentiment: Multiple brokers remained bullish, with Jefferies and Berenberg both reiterating buy ratings and raising or maintaining high price targets, while UBS also issued a favorable note. Moonpig gets glowing missive from UBS
• Positive Sentiment: Canaccord Genuity kept a buy rating, only trimming its target slightly, which still signals confidence in Moonpig’s outlook. Broker views
• Neutral Sentiment: Deutsche Bank reaffirmed its hold rating with a GBX 235 target, showing some caution but not a negative thesis on the business. Broker views

Wall Street Analyst Weigh In

A number of brokerages have commented on MOON. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 235 price objective on shares of Moonpig Group in a report on Friday. Berenberg Bank reaffirmed a “buy” rating and set a GBX 300 price target on shares of Moonpig Group in a report on Thursday. Jefferies Financial Group reissued a “buy” rating and issued a GBX 315 target price on shares of Moonpig Group in a report on Thursday. Canaccord Genuity Group decreased their target price on Moonpig Group from GBX 310 to GBX 300 and set a “buy” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Moonpig Group from GBX 275 to GBX 285 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 299.29.

Moonpig Group Stock Down 0.0%

The company’s fifty day moving average is GBX 215.23 and its 200-day moving average is GBX 212.07. The company has a market capitalization of £688.22 million, a PE ratio of 16.63 and a beta of 0.97. The company has a debt-to-equity ratio of -216.13, a quick ratio of 0.46 and a current ratio of 0.21.

Moonpig Group declared that its board has authorized a stock buyback plan 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 plans are often an indication that the company’s board believes its stock is undervalued.

Moonpig Group Company Profile

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.