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Rightmove ( (GB:RMV) ) has provided an update.
Rightmove plc has executed a share buy-back program, purchasing 115,000 of its ordinary shares at an average price of 724.282p per share. This transaction represents 0.0149% of the voting rights of the total ordinary shares and is part of an ongoing buy-back strategy that has seen the company repurchase over 536 million shares since 2007. The purchased shares will be cancelled, which may positively impact the company’s share value and provide a return to shareholders.
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 offering online property listings and related services. The company focuses on providing a digital platform for property buyers, sellers, and real estate agents in the UK market.
Average Trading Volume: 1,800,772
Technical Sentiment Signal: Buy
Current Market Cap: £5.55B
Find detailed analytics on RMV stock on TipRanks’ Stock Analysis page.