Rightmove PLC Add to portfolio

This was revealed to investors in an analyst note on Thursday morning. Among 11 analysts covering Rightmove PLC (LON:RMV), 1 have Buy rating, 5 Sell and 5 Hold. Therefore 9% are positive. Rightmove PLC had 34 analyst reports since February 6, 2018 according to SRatingsIntel. The stock of Rightmove plc (LON:RMV) has “Buy” rating given on Friday, July 27 by Numis Securities.

Read Full Details

TODAY'S OTHER NEWS. As if to prove there are two ways to interpret every figure, a new analysis of Rightmove’s recent trading statement suggests that the portal is not, after all, doing as well as some believe. Mike DelPrete, the international property digital analyst, says last week’s figures from Rightmove - which showed increases in numbers of agency members and double-digit percentage rises for revenue and operating profit - had a downside too. The slowing growth in revenue revealed by the portal is part of what DelPrete calls “the Rightmove dilemma" - that is, relatively few other ways exist for the portal to attract more income because it has not diversified in the way that, for example, ZPG had before its takeover by a US equity firm. DelPrete emphasises that Rightmove remains “an incredibly strong business, with nearly-impregnable network effects that will likely protect its core business for years.”. But he insists that its dilemma is growth - where does it go from here?

Read Full Details

By browsing this site you are agreeing to this. For more information see our Privacy and Cookie policy.Close. The subscription details associated with this account need to be updated. Please update your billing details here to continue enjoying your access to the most informative and considered journalism in the UK. Rightmove, which has 1.2 million properties listed on its site, said pre-tax profits in the six months to the end of June reached £98 million, with revenue up 10 per cent to £131 million.

Read Full Details

Rightmove boosts profits as agents spend more on property listings. He added: “Whilst estate agents are facing challenging markets and tightening their belts, Rightmove has raised average prices.”. He added: “The continued stable membership numbers and our subscription advertising model, together with the strength of the Rightmove offer for both customers and consumers, give us confidence in delivering expectations for the current year despite muted sentiment towards the UK property market.”. However, membership numbers grew by just 0.5pc over the past 12 months to 20,450 agents and developers, and some analysts questioned whether Rightmove’s growth is sustainable. Despite enjoying a 74pc share of traffic across both desktop and mobile property searching, Rightmove has faced stiff competition from new entrants to the sector including OnTheMarket, which listed in February, as well as other listing sites such as Zoopla.

Read Full Details

Rightmove has become the biggest faller on the FTSE 100 amid fears over the UK’s property market. Revenues at the property portal grew 10% for the six months ended June 30, rising from £119.5 million to £131.1 million year-on-year, and operating profit was up 12% to £98.2 million. However, analysts cautioned that with estate agents under pressure, Rightmove’s future growth prospects might be limited. Surveyors warned earlier this year that the housing market was seeing a decline in demand from buyers, and recent figures from HM Revenue & Customs showed residential transactions fell by 5.7% year-on-year in June. Russ Mould, investment director at AJ Bell, said: “Half-year results at online property portal Rightmove are a good reminder that it can still make very good money even when the housing market starts to weaken.

Read Full Details

Rightmove has become the biggest faller on the FTSE 100 amid fears over the UK’s property market. Revenues at the property portal grew 10% for the six months ended June 30, rising from £119.5 million to £131.1 million year-on-year, and operating profit was up 12% to £98.2 million. However, analysts cautioned that with estate agents under pressure, Rightmove’s future growth prospects might be limited. Surveyors warned earlier this year that the housing market was seeing a decline in demand from buyers, and recent figures from HM Revenue & Customs showed residential transactions fell by 5.7% year-on-year in June. Russ Mould, investment director at AJ Bell, said: “Half-year results at online property portal Rightmove are a good reminder that it can still make very good money even when the housing market starts to weaken.

Read Full Details