Rightmove Share Discussion Threads

[aishah] 08/1/2015 16:15

Indeed! London market will be soft. That's where Zoopla rules the roost. RMV focus mostly outside London. Goldman's CONVICTION BUY with 3600p target

[dlku] 08/1/2015 16:03

Market Report: Foxtons shares reverse as City foresees a rocky road for London property

Credit Suisse has trimmed its earnings forecasts for upmarket estate agents Foxtons by 10%, warning that the year ahead is not looking as rosy as last.

The bank says the Royal Institution of Chartered Surveyors’ recent market survey points to a slow-down in activity, and the upcoming general election will only add to uncertainty in the property market. Foxtons tumbled 8.75p to 165.5p.

[christmasworker] 06/1/2015 23:43

Shares in Foxtons (FOXT) have been sliding for a while – the market anticipating that sooner or later London’s poshboy Estate Agent would serve up a profits warning. Last week it duly obliged but even at 158p post warning the shares remain a pretty safe short for Christmas.

The warning was explicit:

Market volumes in Q3 have been more in line with the first half of 2013 and we now believe that market volumes in H2 2014 overall will be significantly below levels during the same period last year. Consequently, we expect full year 2014 adjusted EBITDA to be below the prior year figure of £49.6m.

The market cap is now £447 million and the company is debt free and has some income attractions but earnings visibility is dreadful. You can bet the ranch on there being more profits warnings.

London property prices are insane. Bubbles do not deflate they burst. At some stage in 2015 interest rates will rise and anyone who has bought on a leveraged basis in the Capital in the past few years will soon feel the squeeze. As an illiquid assets houses need only a small preponderance of sellers over buyers or vice versa to see sharp moves in process.

Moreover we have an election looming and if the next Government is either Labour or a LibLab pact then a mansion tax is inevitable and that will clobber very many Londoners. In my view UKIP will not win many seats at all but it will take enough Tory votes to hand a couple of dozen Tor seats to Labour. Lord Ashcroft’s polling makes that clear. That is one very good reason NOT to buy a house in London ahead of next May and indeed perhaps for older folks to sell and downsize ahead of the tax.

An EBTDA multiple of just over ten looks pretty dam full for a company with real earnings visibility but Foxtons has none. Another profits warning before Christmas is almost inevitable and this it still looks like a safe Santa short to pay for Christmas. Or for many who live in London, for their 2015 post-election Mansion Tax bill.

[kitbag1984] 02/1/2015 16:29

AISHAH. Whilst buyback are good the problem is in this case they simply mask a problem. That of lack of growth. This is a real problem. They artificially push up share price. In fact I would rather the money back as a higher dividend. Thankfully my average buy price including costs is 21.73 without the divs so I am still in profit but am seriously worried about this company.

[aishah] 02/1/2015 14:21

Rightmove plc announces that it has commenced an irrevocable, non-discretionary
programme to purchase shares on its own behalf, for cancellation, during its
close period. The programme commences on 2 January 2015 and runs up to and
including 26 February 2015.

Any acquisitions will be effected within certain pre-set parameters, and in
accordance with both Rightmove plc general authority to repurchase shares and
Chapter 12 of the Listing Rules which requires that the maximum price paid be
limited to no more than 105 per cent of the average middle market closing price
of Rightmove plc shares for the 5 dealing days preceding the date of purchase.
Rightmove plc confirms that it currently has no unpublished price-sensitive
information.

[kitbag1984] 02/1/2015 13:40

Some good strength today. Let see if it can break through 2330. I may sell then.

[aishah] 30/12/2014 14:13

RMV have retained over 90% of agents so far who have subscribed to the new onthemarket.com portal.

Zoopla in trouble with the most impact imo. dyor

[aishah] 29/12/2014 09:32

On the move again. Chart looking good day by day

[zho] 27/12/2014 16:41

Zoopla and Rightmove ‘duopoly’ challenged by estate agents

[aishah] 27/12/2014 14:19

Posted November 26, 2014 8:30AM GMT in Broker Updates

Goldman Sachs restated its 'Strong Buy' recommendation of Rightmove PLC (RMV), in a research note released on Wednesday. The analysts also increased their price objective from 3,327p to 3,616p, which represents a 62.96% potential upside on the current share price.

Rightmove PLC is currently trading at 2,243p. It has a fifty-two week high of 2,805p and a fifty-two week low of 1,981p. It is currently trading above its 50-day moving average price of 2,153p and below its 200-day moving average price of 2,332p

A number of other firms have also recently commented on RMV, with analysts at Barclays reiterating their 'Overweight' view in a research note published on 07-Nov-14 and maintained their price target of 2,500p, and Credit Suisse reiterating their 'Outperform' recommendation and maintained their price objective of 2,655p on 07-Nov-14.

Overall, analysts are very bullish on Rightmove PLC, with 9 of 14 the covering analysts giving it a 'Strong Buy' rating, and 1 analyst giving it a 'Buy' recommendation.

[kitbag1984] 27/12/2014 13:51

Having been a fan of this stock for the last few years I wish I'd now sold at 28. Can't see anywhere for it to go now. They haven't capitalised on their position and it is an easy business model to replicate. The simple addition of an online estate agent would have given them the ultimate edge and undoubtedly let them win in this space. As it is however with this lack of innovation and a slowing house market I can only see one way for this stock. I need to plan an exit route.

[helpaargh] 24/12/2014 08:22

More firms opt to stick with Rightmove when OnTheMarket launches

[aishah] 23/12/2014 09:46

Continous Buybacks; Goldmans CONVICTION BUY with £36 target.

[helpaargh] 22/12/2014 10:58

Worst case scenario already in price. RMV still buying back 25000 shares daily that's over £500000 daily

[gclark] 22/12/2014 10:40

This has got to be overvalued with the launch of OnTheMarket.com next month. The margins on RMV have been huge and this must mark the moment when margins come down, IMHO. DYOR

[aishah] 18/12/2014 11:35

Been adding here. dyor

[bigbigdave] 18/12/2014 08:12

Russians Quit London Luxury-Homes as Only Super Rich Stay

[helpaargh] 18/12/2014 08:00

Rightmove gives away its real-time data feed spec as portal wars hot up

Rightmove says any portal can use its real-time data feed

[aishah] 10/12/2014 12:33

Liberium - Buy with 2510p target

[kitbag1984] 08/12/2014 08:27

Also I would have thought that the stamp duty changes would have had an impact on share price but nothing?!

[kitbag1984] 06/12/2014 22:20

We really need to see some innovation from them now. They can't just rest on their laurels while others take market share and reduce margin.

[aishah] 04/12/2014 09:44

Been accumulating here recently. Turning up from lows. Goldmans Conviction Buy with £36 target. Buy backs going on too. dyor

[helpaargh] 21/11/2014 07:20

Got to be good news for Rightmove

[wanttowin] 30/10/2014 17:35

Bit of fun here,