Rightmove Enhances Shareholder Value with Latest Share Buy-Back

Rightmove ( (GB:RMV) ) just unveiled an update.

Rightmove plc announced the purchase of 100,000 of its own shares as part of an ongoing share buy-back program, with the shares acquired at an average price of 771.377p each. This transaction represents a continuation of Rightmove’s long-term strategy to manage its capital structure and return value to shareholders, further solidifying its market position.

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 strong financial performance is a major positive factor, supporting its robust stock score. Technical analysis confirms a bullish trend, further boosting confidence. However, the high P/E ratio suggests possible overvaluation, and despite positive share buy-backs, analyst sentiment remains negative, which tempers the overall 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 offering an online property portal for buying, selling, and renting properties. The company focuses on providing a comprehensive digital platform for property listings, catering to both consumers and real estate professionals.

Average Trading Volume: 2,324,690

Technical Sentiment Signal: Buy

Current Market Cap: £5.96B

Learn more about RMV stock on TipRanks’ Stock Analysis page.