Royal Bank of Canada Raises Rightmove (LON:RMV) Price Target to GBX 750

Rightmove (LON:RMV) had its price target raised by investment analysts at Royal Bank of Canada from GBX 630 ($8.06) to GBX 750 ($9.59) in a research note issued to investors on Monday,Digital Look reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 7.48% from the stock’s previous close.

Several other research firms also recently issued reports on RMV. Shore Capital reaffirmed a “buy” rating on shares of Rightmove in a research note on Friday, November 8th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 775 ($9.91) price target on shares of Rightmove in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research note on Thursday, December 5th.

Rightmove Price Performance

Shares of LON:RMV opened at GBX 697.80 ($8.93) on Monday. The company has a market cap of £5.44 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 2.58 and a beta of 1.05. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The firm has a 50 day simple moving average of GBX 654.90 and a 200 day simple moving average of GBX 634.81. Rightmove has a one year low of GBX 499.20 ($6.39) and a one year high of GBX 710 ($9.08).

Rightmove (LON:RMV) last released its quarterly earnings results on Friday, February 28th. The company reported GBX 12.80 ($0.16) earnings per share (EPS) for the quarter. Rightmove had a net margin of 52.69% and a return on equity of 293.54%. Research analysts predict that Rightmove will post 30.2327791 earnings per share 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.