Rightmove plc

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  • Sectors : Technology
  • Companies : Rightmove plc

Ratings and price correct at time of issue.

  • Rightmove plc

    Closing Price: 668p

  • RATING 24/01/22

  • PREVIOUS RATING N/A

DAVY VIEW

In a UK residential market that has been somewhat becalmed for half a decade, Rightmove (RMV) has been consistent, deliberate and sustained in building competitive advantage. Consumers love it, the techno-phobic estate agents both love and hate it, yet through it all average revenue per advertiser (ARPA) continues to expand, evidencing the growing value proposition. Senior management succession since the founding of RMV in 2000 showcases this resilient consistency. Virtual viewings represent a real opportunity and the lettings adjacency is material. RMV appears very well positioned. We initiate with an ‘Outperform’ rating and price target of 799p.

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Jan 24 2022, 16:40 GMT

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