Rightmove PLC

OTC Pink - Current Information:RTMVYUnited States

Nov 8, 2024

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• DJ Rightmove Update Shows Strength of Business Model -- Market Talk, from 5:11AM ET on Friday Nov 08, 2024 by Dow Jones

  5:11AM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: RTMVY
  
  1011 GMT - Rightmove's trading update reflects the strength of its business model, RBC Capital Markets analysts Anthony Codling and Ross Broadfoot write. The online property portal largely reiterated its guidance, expecting full-year revenue of around 390 million pounds. Both Rightmove and the U.K. housing market are enjoying a recovery, which shouldn't be derailed by the measures outlined in the U.K. Budget, the analysts add. Shares trade down 0.33% at 594.4 pence. (adam.whittaker@wsj.com)
  

• DJ Rightmove's Pricing Power Seen Undeterred as Competition Evolves -- Market Talk, from 5:00AM ET on Friday Nov 08, 2024 by Dow Jones

  5:00AM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: RTMVY
  
  1000 GMT - Rightmove's upgrade to its growth forecast for average revenue per advertiser shows its pricing power remains strong despite a changing market, Berenberg analysts write. The London-listed online property portal said it now expects ARPA to grow by 85 to 95 pounds on the 1,431 pounds it reported the year prior. This is above its previous guidance of 75 to 85 pounds growth. The guidance upgrade shows Rightmove's demand remains strong despite the increased competition after CoStar's acquisition of OnTheMarket, the analysts say. Shares trade 0.33% lower at 594.4 pence. (adam.whittaker@wsj.com)
  

• DJ Rightmove's Trading Update Unlikely to Shift Consensus -- Market Talk, from 3:53AM ET on Friday Nov 08, 2024 by Dow Jones

  3:53AM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: RTMVY
  
  0852 GMT - Rightmove's trading update is unlikely to result in changes to consensus expectations for 2024 or 2025, Jefferies analysts write in a research note. Friday's update shows welcome progress across the online real estate portal's core business and strategic growth areas, the analysts write. Shares have fallen from 710 pence since Sept. 23 when Australia's REA issued its final bid for the company. The trading update shouldn't cause the stock to drift lower, they write. Shares trade down 0.2% at 595.2 pence (adam.whittaker@wsj.com)
  

• DJ Rightmove Seen Maintaining Dominance as Competition Increases -- Market Talk, from 3:28AM ET on Friday Nov 08, 2024 by Dow Jones

  3:28AM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: RTMVY
  
  0828 GMT - Rightmove's trading update shows the company maintained its brand dominance in an increasingly competitive market, Shore Capital analyst Roddy Davidson writes. The company said 80% of all consumer time spent on U.K. property portals is on its platforms. While Rightmove confirmed key full-year guidance metrics, the company is entering a challenging phase where it will be harder to develop new revenue opportunities and achieve price inflation, Davidson says. Shares trade down 0.2% at 595.20 pence. (adam.whittaker@wsj.com)
  

• *DJ Rightmove: In Line to Meet Market Expectations for Revenue, Adj. Underlying Operating Profit, from 2:02AM ET on Friday Nov 08, 2024 by Dow Jones

  2:02AM ET on Friday Nov 08, 2024 by Dow Jones
  Companies Mentioned: RTMVY
  
  By Adam Whittaker
  
  Rightmove said it is on track to meet key guidance metrics for the full year but lowered guidance on membership growth.
  
  The London-listed online property portal said Friday that house price growth remains positive, despite being subdued, and that mortgage rates are stable with an improved outlook ahead of potential bank rate cuts.