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Rightmove versus Wrongmove: OnTheMarket launched in January. Agents who sign up must advertise their properties on that site and no more than one other. Most agents choose to pull their ads from Zoopla, because it is a dispensable number two. That means Rightmove is the only place almost guaranteed to have a particular listing. On Wednesday Rightmove reported its market share — based on the number of pages that internet users viewed — had risen to 82% among the top four property websites. It now has 50% more listings than Zoopla. Its shares, already at skyscraper heights, added a storey. OnTheMarket says it can still overtake Zoopla and then outcompete Rightmove on price. But if estate agents want to tackle Rightmove’s pricing, they either have to offer something completely different (a Snapchat to Rightmove’s Facebook) — or wait for regulators to step in. Regulatory action, a distant prospect, becomes a tad more likely if Rightmove ends up a monopoly. Perhaps that is OnTheMarket’s real genius.
LATEST BROKER VIEWS Date Broker New target Recomm. 9 Jan Jefferies... 1,620.00 Underperform
Thirty agents – with a total of 100 branches – in Wales have announced that they will continue to list with Zoopla and PrimeLocation when OnTheMarket launches. http://www.propertyindustryeye.com/welsh-agents-ditch-rightmove-favour-zoopla/
Online estate agents Purplebricks builds support: Online estate agents Purplebricks, which is taking on high-street chains by offering a flat-fee service, has secured £7 million of backing from top City investor Neil Woodford.
This has to be one of the most over priced stock on the market right now. Mkt Cap of £2.4 billion and a turnover of only £139 million. They don't even appear to have any assets of significant value. When interest rates start going up in November this is going to hit the floor. This should be £7 max.
The so called new competitor (Agents Mutual) starting in January has only £6million in funding: http://www.globaledge.co.uk/news/how-the-new-rightmove-competitor-can-wi-65750 Hardly a serious competitor when RightMove has a market cap of £2Billion! RMV is a strong buy when the property market boom is predicted to continue for at least two years: http://www.theguardian.com/society/2014/may/09/house-price-boom-predicted-to-continue-for-two-more-yearsr
seems like it was a reaction to Golman Sachs upgrading the stock to 'Conviction Buy'!
Does anyone have any ideas what caused the spike in the share price today at around 1:30pm??
Paul, a very accurate statement indeed, I'm out with a £210 loss. To conclude your thoughts 'Rightmove are not invincible'!
A significant reason for this share being weaker is due to the probability of the stronghold within the market of both Rightmove and Zoopla being severally disrupted from early next year as a result of a new player entering the market. Rightmove have all the customers they can get - ie all the fee paying estate agents. The only way they can increase profitability is by increasing fees to agents who have had no choice but to reluctantly except increases. This action has caused an increasing bad feeling amongst agents who feel they are being ripped off and many will turn from January to the new alternative who will offer all the same benefits but at a fraction of the price. Its interesting that the Chairman of Rightmove sold in the order of £7m worth of shares in the last few days.
Hi, Can anyone give some ideas as to why the share price has moved so sharply down these last few days?? I can't see any bad news from the company so I have topped up my position, It's nice to see RMV buying their own shares especially on days like this!!
Why has RMV got so good broker ratings when the share price continues to plummet?
Housing market recovery helps drive profits higher at property portal Rightmove The FTSE 250 firm, which floated on the stockmarket in 2006, said it generated 36million phone and email enquiries from customers, up 70 per cent. Full Story: http://www.dailymail.co.uk/money/markets/article-2570130/Housing-market-recovery-helps-drive-profits-higher-property-portal-Rightmove.html MailOnline
Looking Good! · Revenue increased by 17% to £139.9m (2012: £119.4m) · Underlying operating profit(1) increased by 19% to £104.0m (2012: £87.5m) · Underlying operating margin(1)increased to 74.3% (2012: 73.3%) · Basic earnings per share up 21% to 74.1p (2012: 61.3p) · Underlying basic earnings per share(2)up 23% to 81.0p (2012: 65.7p) · 2.8m shares bought back during 2013 (2012: 4.5m) at a cost of £60.5m (2012: £66.4m) · Final dividend of 17.0p (2012: 14.0p) making a total dividend of 28.0p for the year (2012: 23.0p), up 22% · Number of advertisers(3) up 4% at 18,425 (2012: 17,680) · Average revenue per advertiser (ARPA)(3)up 15% to £607 per month (2012: £529 per month) · Site traffic up 27% to 14.0bn pages (2012: 11.0bn pages) · Generated 36.0m (2012: 21.2m) phone and email enquiries for our customers, up 70%
Research analysts at Numis Securities Ltd increased their price objective on shares of Rightmove (LON:RMV) from GBX 3,027 ($49.88) to GBX 3,270 ($53.89) in a report released on Monday, Analyst Ratings News reports. The firm currently has an “add” rating on the stock. Numis Securities Ltd’s target price would suggest a potential upside of 22.20% from the company’s current price. Shares of Rightmove (LON:RMV) traded down 0.56% during mid-day trading on Monday, hitting GBX 2660.00. The stock had a trading volume of 107,348 shares. Rightmove has a 52-week low of GBX 1515.00 and a 52-week high of GBX 2814.00. The stock has a 50-day moving average of GBX 2583. and a 200-day moving average of GBX 2435.07. The company’s market cap is £2.664 billion. Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Rightmove in a research note to investors on Thursday. They now have a GBX 3,000 ($49.44) price target on the stock. Separately, analysts at UBS AG downgraded shares of Rightmove to a “neutral” rating in a research note to investors on Wednesday, January 8th. They now have a GBX 3,020 ($49.77) price target on the stock, up previously from GBX 2,600 ($42.85). Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Rightmove from GBX 2,667 ($43.95) to GBX 3,030 ($49.93) in a research note to investors on Wednesday, January 8th. They now have an “overweight” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 2,749.34 ($45.31). Rightmove plc operates in the United Kingdom residential and commercial property industry connecting people to properties.
Past £27 today - if it does we are heading for £30 - given everything that is going on the the Housing Market
At last - we start to move - thought the market had 'missed' the tie-up with Countrywide which is great news Now it should fly
Resurgent house prices have lifted Rightmove shares and bolstered the online property listings company's already bumper margins, Fortson says. The government's help-to-buy programme, which supports homebuyers without big deposits, will be extended beyond new builds in January. That is a recipe for still higher property prices and more profits for Rightmove, Fortson says.
TYPO BELOW
Drax is going green to shed its position as Europe's biggest polluter but the owner of Britain's biggest coal-fired power station faces challenges, the Sunday Times's Danny Fortson writes. The overhaul includes a £700m conversion of three of its six boilers to run on wood from the US - a plan Fortson thinks is bound to hit problems. Drax also faces a hit to profits from UK's and European carbon taxes. At its first-half results on July 30th, broker Charles Stanley expects profits down by a third to £102m. After the shares rose by a third this year to 645.5p Fortson says take profits.
+3 more big buys....
Rightmove: Barclays ups target price from 1740p to 1950p and upgrades to overweight.
the chart is clearly suggesting further down side risk and with the company being in close period , looking like we could a few sell notes popping out of the woodwork. directors have been selling blocks of shares post last set of results in August .
Canaccord Genuity maintained its "buy" recommendation on Rightmove (RMV) with a target price of 1,800p and believes its recent trading statement suggests "healthy growth in revenue and earnings and strong cash generation". The UK's number one property website held 23.5 million pounds in cash as at 31st October 2012, which was 1.4 million pounds higher than the broker's forecast, an impressive achievement according to Canaccord. The broker is also impressed with the management team and welcomed Nick McKittrick's elevation to the position of Chief Executive.
Rightmove: Westhouse Securities upgrades to neutral, target lifted from 1,434p to 1,506p.