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Rightmove ( (GB:RMV) ) just unveiled an announcement.
Rightmove plc has announced the purchase of 115,000 of its own ordinary shares as part of its ongoing share buy-back programme, with the shares being acquired at an average price of 722.115p each. This transaction represents 0.0149% of the voting rights of the total ordinary shares in issue before the purchase and is part of a long-term strategy that has seen the company buy back over 536 million shares since 2007, indicating a commitment to returning value to shareholders and potentially impacting its market positioning.
The most recent analyst rating on (GB:RMV) stock is a Hold with a £8.15 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 Neutral.
Rightmove’s strong financial performance is the most significant factor, showcasing robust profitability and financial stability. However, technical analysis indicates potential bearish trends, and the valuation suggests the stock may be overvalued. These factors collectively moderate the overall stock score.
To see Spark’s full report on GB:RMV stock, click here.
More about Rightmove
Rightmove plc operates in the real estate industry, primarily focusing on providing an online property portal for buying, selling, and renting properties in the UK. The company is a key player in the digital real estate market, offering services to both consumers and real estate professionals.
Average Trading Volume: 1,817,040
Technical Sentiment Signal: Buy
Current Market Cap: £5.57B
For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.