Rightmove (LON:RMV) Stock Jumps 8.9% – Time to Buy?

Rightmove plc (LON:RMV) traded up 8.9% during trading on Thursday. The stock traded as high as GBX 532.80 and last traded at GBX 502.60. Approximately 6,900,926 shares traded hands during trading, a decline of 78% from the average daily volume of 32,088,566 shares. The stock had previously closed at GBX 461.50.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Berenberg Bank restated a “buy” rating and set a GBX 575 target price on shares of Rightmove in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 665 price objective on shares of Rightmove in a research report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 465 target price on shares of Rightmove in a report on Tuesday, September 8th. Citigroup raised their target price on shares of Rightmove from GBX 455 to GBX 486 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rightmove from GBX 404 to GBX 429 and gave the stock an “underweight” rating in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 595.12.

Rightmove Price Performance

The business has a 50-day moving average of GBX 482.91 and a two-hundred day moving average of GBX 451.14. The company has a current ratio of 1.53, a quick ratio of 2.55 and a debt-to-equity ratio of 7.35. The firm has a market cap of £3.64 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.58 and a beta of 0.91.

Rightmove (LON:RMV) last posted its earnings results on Friday, July 31st. The company reported GBX 15.60 EPS for the quarter. Rightmove had a net margin of 49.72% and a return on equity of 281.32%. On average, sell-side analysts anticipate that Rightmove plc will post 30.2327791 earnings per share for the current fiscal year.

Rightmove announced that its Board of Directors has approved a stock repurchase plan on Friday, July 31st that allows the company to buyback 0 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 of directors believes its shares are undervalued.

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.