Download full report with analyst certification and important disclosures
Oct 28 2022, 07:00 IST/BST
OnTheMarket plc
Forecast update: stay
- Companies : OnTheMarket plc
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.
