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The latest update is out from Rightmove ( (GB:RMV) ).
Rightmove plc announced the purchase of 50,000 of its ordinary shares as part of its ongoing share buy-back programme, with the shares purchased at an average price of 820.303p and subsequently cancelled. This transaction represents a continuation of Rightmove’s long-term strategy to return value to shareholders, having repurchased over 533 million shares since 2007, and reflects the company’s commitment to managing its capital structure effectively.
The most recent analyst rating on (GB:RMV) stock is a Sell with a £5.55 price target. To see the full list of analyst forecasts on Rightmove stock, see the GB:RMV Stock Forecast page.
Spark’s Take on GB:RMV Stock
According to Spark, TipRanks’ AI Analyst, GB:RMV is a Outperform.
Rightmove’s overall stock score is driven by strong financial performance and positive technical indicators. The company’s robust financial health and positive market momentum are significant strengths. However, the high P/E ratio suggests potential overvaluation, and the modest dividend yield provides limited income. The ongoing share buy-back program is a positive corporate event, but recent analyst ratings with ‘Sell’ recommendations may temper enthusiasm.
To see Spark’s full report on GB:RMV stock, click here.
More about Rightmove
Rightmove plc operates in the real estate industry, primarily offering an online property portal for buying, selling, and renting properties. The company focuses on providing a comprehensive platform for property listings and related services in the UK market.
Average Trading Volume: 1,755,777
Technical Sentiment Signal: Buy
Current Market Cap: £6.29B
For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.