rightmove share price
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Marketing
Rightmove avoids FTSE 100 blow despite share falls
The portal was listed among companies expected to drop out of the top 100 firms on the London Stock Exchange, but avoided the final cut.
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Marketing
Rightmove set to drop out of FTSE 100
The portal could fall out of the top 100 of UK firms listed on the London Stock Exchange next week, as its share price continues to sink.
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Marketing
Under-fire Rightmove sees share price fall further
The portal is being warned its latest fee hikes could put some independent agents out of business.
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Latest property news
Found its happy? Rightmove share price edges towards historic £50 high
Rightmove shares are about to break the £50 barrier for the first time as the portal’s popularity with investors has seen its stock enjoy a three-month money-making run. This will be an historic high for the company’s shares, which were launched in 2006 at £3.35p each, valuing the company at £425 million. This means anyone who bought shares worth £100,000 then could now cash them in for £1.25 million. Also, Rightmove’s share price has increased by 19% since early March from £41.8p a share to £49.70p today. This values the company at £4.45 billion, or almost exactly twice that of Zoopla, even at ZPG recently inflated takeover stock value, and a staggering 27 times Rightmove’s forward earnings forecast. The huge and ongoing increases in Rightmove’s share price have been attributed by experts to several City investment analyst reports including those from Peel Hunt, JP Morgan and Liberum Capital. Rightmove’s growth Rightmove has also been delivering what the City likes – growth. Its annual report for 2017 published in March revealed yet another year when turnover, profits and shareholder dividend increased year-on-year. During 2017 it increased its monthly revenue from agents by 10% to £922. Rightmove has also been helped by…
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Latest property news
Rightmove shares slide as agents grumble
Rightmove announced full year results on Friday 24th February, reporting further success. Pre-tax profits rose from £137.1m in 2015 to £161.5m in 2016, up by almost 18 per cent. Revenues rose by 15 per cent to £220m. So why, on that day, did their shares slide down a steep hill – down 5.8 per cent to £40, wiping over £200 million off its value? Rightmove Chairman, Scott Forbes said, “Our audience, best in class platforms and significant property inventory advantage coupled with our focus on innovation at the core of our business drives our value proposition for the benefit of both our trade customers and consumers. Property data has always been at the core of what we do and we are excited about continuing to harness the power of our data to drive further transparency and efficiency in the property market, predict market opportunities and drive success for our customers and consumers.” There’s no doubt that Rightmove is doing well for its investors, so it is possible that the fall was due to the announcement of Nick McKittrick’s (pictured right) forthcoming retirement, as the national papers deduced, but could there also be growing unrest among Rightmove’s 20,121 Agency and New Homes customers? RIGHTMOVE…
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