Rightmove (RMV)

Sector:

Real Estate

Index:

FTSE 100

755.00p
   
  • Change Today:
    -3.40p
  • 52 Week High: 762.40
  • 52 Week Low: 518.40
  • Currency: UK Pounds
  • Shares Issued: 776.27m
  • Volume: 386,926
  • Market Cap: £5,861m
  • RiskGrade: 130
  • Beta: 0.01

Rightmove still overvalued with another REA bid unlikely, says Jefferies

By Benjamin Chiou

Date: Wednesday 26 Feb 2025

LONDON (ShareCast) - (Sharecast News) - The market continues to overvalue Rightmove, with the shares pricing in another takeover offer from REA Group that's unlikely to materialise, according to Jefferies, which reiterated an 'underperform' stance on the stock.
The broker, which cut its rating from 'hold' just last month, said "recent news flow supports our view".

Australian real estate information giant CoStar is continuing to make moves in the UK through its OnTheMarket business, while real estate sentiment towards Rightmove is continuing to sour - as evidenced by a recent petition for a CMA investigation into pricing practices at the firm.

"At the time of writing, signatories to the petition total 1,359 (vs an independent agency base of c.15k)," Jefferies said. And while the broker acknowledged that the petition is unlikely to succeed in getting the CMA to intervene, exasperated agents could look to switch to new providers as competition picks up.

Meanwhile, last week's speculation that CoStar is interested in buying Australia's number-two property marketplace Domain - second only to REA, which was rebuffed in a takeover attempt of Rightmove last year - means that REA is unlikely to attempt another takeover of the UK company, Jefferies said.

"Alongside the risk that REA now faces with a potential new entrant in its domestic market, we also consider the 6 Feb news that REA's CEO, Owen Wilson, intends to retire in 2H25. He is highly regarded in the industry and, crucially, was a key architect of the Rightmove bid," the broker said.

Despite the negative newsflow, Rightmove's shares are still trading at an 18% premium to the level prior to the REA bid in September.

Jefferies has a 495p target price on the stock, indicating 24% downside to the current price.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rightmove Market Data

Currency UK Pounds
Share Price 755.00p
Change Today -3.40p
% Change -0.45 %
52 Week High 762.40
52 Week Low 518.40
Volume 386,926
Shares Issued 776.27m
Market Cap £5,861m
Beta 0.01
RiskGrade 130

Rightmove Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.29% below the market average99.29% below the market average99.29% below the market average99.29% below the market average99.29% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
81.12% above the market average81.12% above the market average81.12% above the market average81.12% above the market average81.12% above the market average
94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average
Income
90.98% below the market average90.98% below the market average90.98% below the market average90.98% below the market average90.98% below the market average
92% below the sector average92% below the sector average92% below the sector average92% below the sector average92% below the sector average
Growth
12.09% below the market average12.09% below the market average12.09% below the market average12.09% below the market average12.09% below the market average
9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average

What The Brokers Say

Strong Buy 5
Buy 4
Neutral 3
Sell 5
Strong Sell 2
Total 19
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rightmove Dividends

  Latest Previous
  Final Interim
Ex-Div 24-Apr-25 26-Sep-24
Paid 23-May-25 25-Oct-24
Amount 6.10p 3.70p

Trades for 06-Jun-2025

Time Volume / Share Price
15:06 234 @ 755.00p
15:06 290 @ 754.80p
15:06 137 @ 754.80p
15:06 437 @ 754.80p
15:06 168 @ 754.60p

Rightmove Key Personnel

CEO Johan Svanström

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