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Rightmove ( (GB:RMV) ) has shared an update.
Rightmove plc announced the purchase of 95,000 of its ordinary shares as part of its ongoing share buy-back program. This transaction represents 0.0123% of the voting rights of the total ordinary shares in issue before the purchase, and the acquired shares will be cancelled. The buy-back program, initiated in 2007, has seen Rightmove repurchase over 537 million shares, indicating a strategic effort to manage share capital and potentially enhance shareholder value.
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 online property listing services. The company focuses on providing a platform for property buyers, sellers, and renters to connect and engage in the UK housing market.
Average Trading Volume: 1,947,678
Technical Sentiment Signal: Buy
Current Market Cap: £5.35B
For detailed information about RMV stock, go to TipRanks’ Stock Analysis page.