OnTheMarket plc

Forecast update: stay

  • Sectors : Disruptive Technology
  • Companies : OnTheMarket plc

Ratings and price correct at time of issue.

  • OnTheMarket plc

    Closing Price: 69.0p

  • RATING 09/08/22

  • PREVIOUS RATING N/A

DAVY VIEW

We update our forecasts to reflect higher costs in H123 due to the expanded service offering to agents. The success in retaining leading agents and winning the Foxtons deal arguably helps secure OntheMarket’s (OTMP) future but does not drive upgraded revenues. Our focus remains on the unlocking of ‘IPO’ estate agents in February 2023, from which time they are able to cancel their contracts and/or sell their equity. The question for now is can OTMP convince them to stay when the UK market outlook is uncertain.

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Oct 28 2022, 07:00 IST/BST

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