Rightmove PLC

Rightmove Plc is engaged in the operation of property search platform. It operates through the following segments: Agency, New Homes, and Others. The Agency segment consists of resale and lettings property advertising services. The New Homes segment is focused on providing the property advertising services to new home developers and housing associations. The Others segment is involved in the overseas and commercial property advertising services and non-property advertising services. The company was founded by Reginald Stephen Shipperley on May 16, 2000 and is headquartered in London, the United Kingdom.

Rightmove PLC (LSE:RMV) reported revenue growth has continued to track marginally ahead of consensus expectations, despite uncertainty in the housing market.    Updating investors on trading since July, the UK's largest online property portal said the increase was driven primarily by higher-than-expected average revenue per advertiser (APRA).

Rightmove revenue ahead of hopes despite uncertain market

In a short research note, Citi has highlighted potential concerns over Rightmove PLC (LSE:RMV)'s market position, following the potential acquisition of Onthemarket PLC by American group CoStar Technologies. The investment bank focused on the difficulty in changing consumer behaviour and the necessity for Rightmove to engage in mergers and acquisitions to maintain its growth trajectory.

Rightmove faces stiff competition following competitor's takeover, says leading investment bank

Rightmove plc is a British online property portal serving buyers, sellers, renters, and landlords. It is one of the 20 holdings of the publicly shared Moats and Monopolies portfolio. Rightmove plc is considered a great investment opportunity for its strong presence in the UK housing market.

Rightmove: A Good Play On The U.K. Housing Market

Rightmove PLC (LSE:RMV) shares have plunged 11% following news of a takeover bid for its rival OnTheMarket from US peer, CoStar. Analysts said the move will ratchet up competition in the UK, as well as remove a potential bider for the online property portal.

Rightmove plunges on competition fears after CoStar's UK move

Rightmove plc (OTCPK:RTMVF) H1 2023 Results Earnings Conference Call July 28, 2023 2:00 AM ET Company Participants Johan Svanstrom - Chief Executive Officer Alison Dolan - Chief Financial Officer Conference Call Participants Operator Good morning, everyone. And welcome to the Rightmove First Half Year Results Presentation for 2023.

Rightmove plc (RTMVF) H1 2023 Earnings Call Transcript

Rightmove, the UK's largest property portal, reported a strong financial performance in its earnings report for the six months ending June 30, 2023, with revenues increasing 10% to £179.5mln. This marks the highest revenue growth in a first half period since 2018.

Rightmove's revenues driven higher by new homes segment

Rightmove, the UK's leading online property sales website, has a strong market position with a share of 88% among the top four property portals in 2021. Despite its dominant position and high profit margins, the company's growth opportunities are limited to the UK property market and potential competition from new market entrants. The company's shares are currently seen as fairly valued, with a P/E ratio of 22 and a dividend yield of 1.6%, and are recommended as a "hold".

Rightmove: Great Business But Not A Bargain

Rightmove (LON: RMV) share price has moved sideways this year as concerns about the UK housing sector continues. The shares have risen by ~2% this year while the FTSE 100 index has drifted downwards by 2%.

Rightmove share price has more upside as UK mortgage rates rise

The United Kingdom is a former superpower and has the sixth-largest economy in the world. It generated solid 4% gross domestic product growth in 2022 and is now forecast to narrowly miss a recession in 2023 with 0.2% growth reported, up from the -0.7% expected previously.

Rightmove Is Undervalued

Mortgage mayhem is becoming a downer for London-listed online property portal Rightmove PLC (LSE:RMV), which fell 2.3% on Tuesday, making it one of FTSE's worst daily performers. As Britain's largest property marketplace, Rightmove sources revenues from estate agents and private landlords who want to advertise their available properties online.

Mortgage mayhem hitting Rightmove's share price

Average new seller asking prices on homes fell for the first time this year, suggesting buyer affordability constraints and pricing realism is now in play. Prices fell by £82 on average according to Rightmove's house price index.

Rightmove data points to falling house prices

Rightmove: Magical Margins Drive Value

Rightmove is the leading property portal in the UK, with more market share than all its main competitors combined. It benefits from a very strong competitive moat that is the result of a powerful brand and network effects.

Rightmove: A Quasi-Monopoly At A Reasonable Price

The business enjoys strong economic moats via a natural network effect - stable c.80% market share over the past decade. Rightmove has a strong financial track record, and a history of willingness to return capital to shareholders.

Rightmove: A High-Quality Business At An Attractive Entry Point

Rightmove plc (OTCPK:RTMVF) Q4 2022 Results Conference Call March 3, 2023 4:00 AM ET Company Participants Peter Brooks-Johnson - CEO Alison Dolan - CFO Peter Brooks-Johnson Hello, everyone, and welcome to the presentation of Rightmove's results for 2022. My name is Peter Brooks-Johnson, and I'm joined by Alison Dolan, our CFO.

Rightmove plc (RTMVF) Q4 2022 Earnings Call Transcript

Rightmove PLC (LSE:RMV), the UK's largest online real estate company, could see its underlying earnings margin fall to 73% in 2023 as it looks to new sources to boost its revenues, according to analysts at Liberum. In the business' full-year results, it revealed plans to help broaden its income base through increasing investment in other points of revenue.

Rightmove faces profit squeeze as it explores new revenue streams

Rightmove PLC (LSE:RMV) said on Friday it does not expect to be materially impacted by the slowing property market other in the “most extreme circumstances.” The online property website made the forecast as it unveiled a 9% increase in full-year revenue in the 12 months to December 31 to £332.6mln from £304.9mln in 2021 as customers continued to upgrade packages and increase use of digital products.

Rightmove expects no material impact from slowing housing market

Pearson PLC

Pearson PLC (LSE:PSON) and Rightmove PLC (LSE:RMV) wrap up the week.  The former was one of the blue-chip stand-outs in 2022 and recently suggested it had finished the year in mixed style, though with profits higher than previously guided.

PMI figures, Pearson and Rightmove rounds of a busy week on Friday

Rightmove dominates the online property market in the UK, with an 84% market share. You can think of it as the UK version of Zillow. The company has extremely high profitability with a spectacular operating margin of 73%.

Rightmove: Short-Term Pain, Long-Term Gain

Asking prices for British homes advertised rose solidly this month and last week's cut to property purchase tax announced by finance minister Kwasi Kwarteng could fuel demand further, property website Rightmove said on Monday.

UK home asking prices rise, tax cuts to spur demand: Rightmove

Rightmove PLC (LSE:RMV) has seen its price target increased by Liberum on the back of its “solid” first-half results. The hike – to 705p from 700p – was coupled with a reiterated ‘buy' recommendation from the London-based investment bank.

Rightmove tipped for 10% upside after 'solid' H1 results

Rightmove plc (OTCPK:RTMVF) Q2 2022 Earnings Conference Call July 29, 2022 2:00 AM ET Company Participants Peter Brooks-Johnson - Chief Executive Officer Alison Dolan - Chief Financial Officer Conference Call Participants Peter Brooks-Johnson Welcome to the presentation of Rightmove's Results for the First Half of 2022. My name is Peter Brooks-Johnson, and I'm joined by Alison Dolan, our CFO.

Rightmove plc's (RTMVF) CEO Peter Brooks-Johnson on Q2 2022 - Earnings Call Transcript

Rightmove shares have fallen 26% from their December 2021 peak, de-rating to a 28x P/E, likely due to concerns about U.K. macro. It is one of the highest-quality listed businesses in the U.K., and earnings have quickly recovered from the disruption by lockdowns in 2020.

Rightmove: Strong Business, Undervalued Due To U.K. Macro Concerns

Rightmove PLC (LSE:RMV) has seen its price target pared by Credit Suisse after recent news of impending changes at the top at the property portal operator. That being said, the cut – to 618p from 650p – is down to an adjustment in the discount period in the broker's discounted cash flow-based valuation and also baking in a bit more macroeconomic uncertainty into projected cash flows.

Rightmove price target cut at "critical juncture for the industry"

The announcement that Rightmove PLC (LSE:RMV) boss Peter Brooks-Johnson is leaving makes him the 11th FTSE 100 boss to quit this year. Even investors who are not involved in the online property portal may wonder at the move, especially if it suggests the chief executive is looking to get out at the top of the market or if it could be part of a trend with wider significance.

News for Rightmove PLC Stock (RTMVY)