Rightmove Share Discussion Threads

[tradeforce] 07/8/2020 08:00

No dividen, reduced revenue, new disruptive tech snapping at heaels, disgruntled client base, strong competition..

Any up she goes!!!

[blackbear] 07/8/2020 07:55

This is not worth 5 billion, competition is growing.
short remains

[loafofbread] 07/8/2020 07:48

All very odd.

[ade45] 07/8/2020 07:37

Local agents bagging the June 2020 was best month ever. Market is still healthy. They are not that hard pushed. Property market still revolves around rightmove

[quepassa] 07/8/2020 04:50

ZILLOW Inc. UP 15% YESTERDAY on blow-out quarterly figures and large increase in user traffic.

Been repeatedly smashing new ALL-TIME-HIGHS over last few weeks.

Started the 2020 year at $45 and yesterday closed at $81.

A lot more to come.


ALL IMO. DYOR.
QP

[toffeeman] 06/8/2020 18:09

Don't get me started about CPR (again!)

[toffeeman] 06/8/2020 16:25

Same reason as Tesla is (currently) worth $280bn

[loafofbread] 06/8/2020 14:55

We can take £80M+ of the revenue for a start.

Might even make a loss for the half year?

No idea why its still worth £5B.

[tradeforce] 04/8/2020 07:56

Last years half year report below. That was with massive buyback program and a program to increase agency fees, at the time the share price was 554p (June 26th 2019) so actually less than todays price. is it likely the market really thinks this is worth more now than then???

Rightmove Plc Half-year Report
26/07/2019 7:00am
UK Regulatory (RNS & others)


TIDMRMV

Embargoed until 07.00 on 26 July 2019

Half year results for the six months ended 30 June 2019

Financial
highlights

H1 2019 H1 2018 Change


Revenue GBP143.9m GBP131.1m +10%

Operating profit GBP108.2m GBP98.2m +10%

Underlying operating profit(1) GBP111.0m GBP101.0m +10%

Basic earnings per share(2) 9.9p 8.8p +12%

Underlying basic earnings per share 10.2p 9.1p +12%
(2)(3)

Interim dividend(2) 2.8p 2.5p +12%

* Revenue up 10% year on year driven by continued growth in our Agency and
New Homes businesses
* Underlying operating profit(1) and operating profit both up 10%
* Underlying basic earnings per share(3) and basic earnings per share both up
12%
* GBP54.0m (2018: GBP76.9m) cash returned to shareholders through dividends and
share buybacks in the period
* Interim dividend increased by 0.3p to 2.8p (2018: 2.5p(2)) per ordinary
share, up 12%

Operational Highlights

* Average revenue per advertiser (ARPA) grew more strongly than anticipated,
up GBP90 on the same period a year ago to GBP1,077(4) per month (2018: GBP987)
* Membership numbers down 1% since the start of the year to 20,209 (31
December 2018: 20,454) reflecting a 3% decline in mainly low-stock Agency
branches offset by strong growth in New Homes development numbers
* Penetration of higher value Enhanced and Optimiser packages reached 35% of
estate agency customers (2018: 27%)
* Virtually the whole of the property market in one place with 1.1 million UK
residential properties advertised on Rightmove, which is more than any
other UK portal
* Continued traffic growth with visits up 2% year on year, averaging nearly
141 million(5) visits per month driven by growth in mobile traffic. Time on
site was flat year on year, averaging 1.1 billion(5) minutes per month
* Progress with rental innovation. Version 2 of the Rightmove Tenant Passport
launched and addition of tenant referencing capability with the agreement
to acquire Van Mildert Landlord and Tenant Protection

Guidance and outlook

In the first half of the year we saw ARPA growth ahead of our expectations, as
our customers took advantage of the exposure and efficiencies which Rightmove
offers. The 4.6% drop in sales transactions year to date compared to 2018 and
the lengthening of time to completion and therefore delay in short-term cash
flows has disproportionately impacted some low-stock agents who have left the
industry. The strong ARPA growth and a meaningful increase in the number of New
Homes developments have offset the impact of a decline in branch numbers. We
expect the second half to follow a similar pattern for both ARPA and low-stock
branches, with development numbers stable.

Rightmove's subscription advertising model, together with the strength of our
proposition for both customers and consumers now and in the future, supports
the Board's continued confidence in delivering its expectations for the full
year.

Peter Brooks-Johnson, Chief Executive Officer, said:

"In the first half of 2019 home hunters visited Rightmove a record 845 million
times. Home hunters continue to turn to Rightmove first to search and research
properties in the only place you can see virtually the whole of the UK market.
Our restless innovation delivers the fastest and easiest way to 'find your
happy' from the 1.1 million UK residential properties on Rightmove.

A 4.6% drop in transactions compared to 2018 has put pressure on some low-stock
agency branches and created opportunity for others. We're focused on helping
all our customers succeed by delivering the most significant and effective
exposure for their properties and brands to compete to win home sale
instructions and also by being the largest source of high quality leads. We've
seen strong adoption of our new digital solutions and existing packages by new
homes developers and agents as they recognise the value of the UK's largest
property audience and Rightmove's unique data insight.

We're looking forward to welcoming Van Mildert, a highly respected tenant
referencing company, to the Rightmove family which will augment our Rightmove
Tenant Passport in our quest to make renting a property faster, easier and more
efficient for tenants, landlords, and agents alike."

[loafofbread] 30/7/2020 13:30

Finally going in the right direction.

[tradeforce] 30/7/2020 13:24

The only thing surprising and remarkable is how this POS is still holding up so well.

I suspect a big drop when the results are out....

[tradeforce] 22/7/2020 12:19

So according to the market this company is worth around a billion (£1,000,000,000) pounds more now than it was a year ago!! Nothing has changed right? In fact the housing market is better than it ever was👀,right??

Cant wait to hear how good their half year results are and a forward statement explaining how well everything is going....

[tradeforce] 08/7/2020 14:41

I thought the news of a stamp duty freeze might have pushed this higher, but maybe that news was known earlier and caused the recent rebound?

[tradeforce] 07/7/2020 06:30

£5,000,000,000

LOL

defying gravity at the moment, just need one big agent to sneeze...

[loafofbread] 01/7/2020 07:22

'The increase in house prices grinds to a halt in June'

[growthpotential] 25/6/2020 21:20

Learn what moves markets when

[loafofbread] 25/6/2020 08:11

Yup.

Surprised it took so long.

[tradeforce] 25/6/2020 08:07

Looks like the wheels are starting to fall off...

[spurslegend1] 23/6/2020 19:52

Rightmove
JP Morgan Cazenove with the summary:

[loafofbread] 23/6/2020 07:42

I can't quite believe this is holding up this morning.

Another 2 months of discounts takes us into the winter months when I can see a further extension.

No need to leave as agencies only paying 25% anyway so that number is a false reading.

Based on this years revenues, this has to be one of the most expensive stocks on the market.

Good times are not going to return.

Crazy.

[buywell3] 23/6/2020 07:06

Looks like a 100M hit from april to sept

Assuming the property market does not go into lockdown again

P/E of 15 would IMO be generous today

499p beckons

IMO dyor

[tradeforce] 19/6/2020 06:46

As I said before, the other two big portals will push like made to nick market share at this time, given the opportunity, and that will be aided massively by this campaign IMO.

Writing on the wall yet?