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Rightmove ( (GB:RMV) ) has shared an update.
Rightmove plc has executed a share buy-back program, purchasing 95,000 of its ordinary shares at an average price of 700.161p per share. This transaction represents a small fraction of the company’s total voting rights and is part of a long-standing buy-back strategy that has seen the company repurchase over 536 million shares since 2007. The purchased shares will be canceled, potentially impacting the company’s share value and shareholder equity.
The most recent analyst rating on (GB:RMV) stock is a Buy with a £8.70 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 an online property portal that connects buyers, sellers, and renters with property listings. The company focuses on providing comprehensive property information and services to facilitate real estate transactions in the UK market.
Average Trading Volume: 1,907,876
Technical Sentiment Signal: Buy
Current Market Cap: £5.39B
For an in-depth examination of RMV stock, go to TipRanks’ Overview page.