Rightmove (RMV)

Sector:

Real Estate

Index:

FTSE 100

549.60p
   
  • Change Today:
      7.00p
  • 52 Week High: 594.80
  • 52 Week Low: 462.90
  • Currency: UK Pounds
  • Shares Issued: 798.50m
  • Volume: 1,457,293
  • Market Cap: £4,388.53m
  • RiskGrade: 130

Berenberg upgrades Rightmove, hikes price target

By Michele Maatouk

Date: Tuesday 03 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Berenberg upgraded Rightmove to 'hold' from 'sell' on Tuesday and hiked the price target to 710p from 455p as it said the stock's valuation was full but "not extreme".
"We conclude that our previous thesis - that Rightmove would experience slowing top-line growth and margin pressure as it struggled to extract higher average revenue per advertiser from its estate agency customers - is unlikely to play out in the medium term," the bank said.

Berenberg said that with the UK real estate market in rude health, and likely to remain robust even once the reduced stamp duty incentive comes to an end in September, it is hard to see what could really hinder Rightmove.

"The company has survived multiple challenges from start-up competitors, and undoubtedly agents would rather they were less dependent on the portal; however, that dependency remains high, and stiff competition between agents in a tight market means that they a) need to maintain their portal listings, and b) need Rightmove's new products," it said.

Berenberg said that with an unlevered free cash flow yield of 3.4% for 2021, Rightmove's valuation does not look unreasonable given its premium market positioning and potential for further growth, particularly in rental (near term) and consumer services (longer term).

At 1110 BST, the shares were up 1.4% at 729.20p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rightmove Market Data

Currency UK Pounds
Share Price 549.60p
Change Today 7.00p
% Change 1.29 %
52 Week High 594.80
52 Week Low 462.90
Volume 1,457,293
Shares Issued 798.50m
Market Cap £4,388.53m
RiskGrade 130

Rightmove Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.94% below the market average98.94% below the market average98.94% below the market average98.94% below the market average98.94% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
9.94% below the market average9.94% below the market average9.94% below the market average9.94% below the market average9.94% below the market average
16.28% below the sector average16.28% below the sector average16.28% below the sector average16.28% below the sector average16.28% below the sector average
Income
85.86% below the market average85.86% below the market average85.86% below the market average85.86% below the market average85.86% below the market average
87.1% below the sector average87.1% below the sector average87.1% below the sector average87.1% below the sector average87.1% below the sector average
Growth
3.97% below the market average3.97% below the market average3.97% below the market average3.97% below the market average3.97% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 5
Buy 6
Neutral 1
Sell 5
Strong Sell 2
Total 19
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rightmove Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 28-Sep-23
Paid 24-May-24 27-Oct-23
Amount 5.70p 3.60p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 746,832 @ 549.60p
16:35 1,508 @ 549.60p
16:35 1,566 @ 549.60p
16:35 4,396 @ 549.60p
16:35 222 @ 549.60p

Rightmove Key Personnel

CFO Alison Dolan
CEO Johan Svanström

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