Rightmove Share Price (RMV)

There seems to be very little interest in this company. I feel the business is very solid, and well run. The ROIC is exceptional which should mean that management is doing a good job. They have a pristine balance sheet, no debt and a strong moat - Rightmove is almost a synonym for a property search in the UK, 86% market share. That's a rock solid network moat. Unless a bigger company like Zilo comes from across the pond I don't see their moat being challenged by the likes of PurpleBricks, etc.

There are still so many physical estate agents in the UK so there's still room for growth from digitisation plus potential expansion in commercial real estate.

The only negative here is the valuation, as often is the case with great businesses. I think the share price is close to fair value. Probably about 10-15% undervalued. Adding the dividend one can expect around 4-5% annual returns at the current price plus potential extra returns from the high ROIC. I would love a slightly better entry point in case rates stay higher for longer but it's unlikely. Might be worth buying a small chunk here and start following it.

Why does the share price stagnate when RMV carry out share buy backs ?

Prefer JPmorgan over Golman Sachs.

JPMorgan cuts Rightmove to 'underweight' (neutral) - price target 493 (585) pence

----------

Goldman Sachs raises Rightmove price target to 667 (659) pence - 'neutral'

Nice marketing move from the RMV boys. First, Train takes a stake last week, second, broker upgrades to buy today, thirdly, issues trading update. All after a plunge in the share price mid October due to a big boy coming after them.

How come everyone is quiet?!