Purplebricks shares
-
Latest property news
Shares tipster gives Purplebricks tepid review ahead of its full-year results.
Times writer says company faces many headwinds despite recently selling its Canadian operation for £35 million.
Read More » -
Purplebricks is being caught up by rival YOPA says leading investment bank
Purplebricks’ growth is stalling and it’s being caught up by rival YOPA, say analysts at Swiss banking giant UBS It has released a research note that both highlights Purplebricks’ slowing growth and cuts the likely final market share in the UK from 15% to 12%. UBS has subsequently dropped its target price for Purplebricks from £3.05p to £2.85p. Shares in Purplebricks are currently trading at approximately £3.36p each. The bank has also reiterated its advice that investors should sell their shares in the company. As well as flagging up slowing growth for the hybrid agency, the bank says its Subject to Contact market share has been flatlining since September last year at approximately 5%. Raise questions “Given the importance of the Spring Market, we believe that this level of progress will be below management’s expectations, and will raise questions around the potential market share Purplebricks is able to achieve,” it says. UBS also says that one of its key competitors, Savills-backed YOPA, is beginning to catch up Purplebricks and now has 0.5% of the market, and that many hybrid and online agents are now offering ‘no sale, no fee’ options to customers, something Purplebricks does not. “Whilst [YOPA’s market share]…
Read More » -
Latest property news
Purplebricks Australia boss cashes in shares worth £146,000
The CEO of Purplebricks Australia has cashed in shares worth £146,000 after exercising his share options in the company, it has been revealed, just after the one-year anniversary of the country launch. Ryan Dinsdale (pictured, right), who joined Purplebricks in June 2016 following time spent at Virgin Money, Telstra and an online broker in Australia, has led the Purplebricks operation in Oz to recent success including, so far, sales totalling property worth $1 billion AUS. His team earlier this week reported revenues of £6.8 million and a gross profit of £3.6 million, and an average income per instruction of $5,282 AUD. He has also increased the number of Local Property Experts working for Purplebricks in Australia to 105, the company’s latest interim trading statement says. Austrian market share It also says that Australia has been more successful than the UK by one measure – market share – which is now higher than the UK 74% of the online market. At the same time Ryan sold his shares, Purplebricks revealed that a further 1.17 million ordinary share options have been exercised by “certain employees”, indicating that some original founding but non director-level staff at the company have also cashed in shares…
Read More » -
Purplebricks shares jump by £45m in one day
Purplebricks shares rose by 4.32% or £45.8 million yesterday during trading on London’s AIM, valuing the hybrid estate agency at £1.11 billion. At the end of trading, Purplebricks shares price stood at £4.10p, nearly four times its price in mid-November last year and the highest it has been to date – a year ago they were trading at just £1.37p each. This means the company, which recently launched a new tranche of ‘commisery’ TV adverts, is now valued at nearly three times the market capitalisation of Countrywide, and almost as much as Savills although it still has some way to go before it reaches ZPG (£1.63 billion) or Righmove (£4 billion). Belvoir Lettings also saw its share price rise yesterday, by 2.34% to £1.06p but Countrywide’s share price dropped by nearly 3%. Encouraging results Purplebricks’ most recent trading statement on the 4th may saw its share price rise by 2% on the back of good news from its UK operation including instruction growth of 83%, and “encouraging” results from its fledgling Australian operation. At the time leading investment advice website Motley Fool pondered whether its then share price of £3.22p could ever reach £4, surmising that “Purplebricks could quite conceivably…
Read More » -
Latest property news
Purplebricks: revenues up, profits come later
Now Mr Bruce is heading to Australia with £10m in his pocket to establish Purplebricks.
Read More »
