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Started: dimi123, 3 May 2024 08:33
Last post: DramChart, 10 May 2024 10:42
I think it is a reaction to the cut in ad revenue forecast.
Nothing not to like from that update! I guess the market had priced in a bigger improvement though.
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.
Started: mikey67, 1 May 2024 15:25
Last post: mikey67, 1 May 2024 15:25
Why does the share price stagnate when RMV carry out share buy backs ?
Started: LiveLif, 16 Jan 2024 10:02
Last post: LiveLif, 16 Jan 2024 10:02
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'
Last post: boselecta, 27 Nov 2023 19:11
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.
Started: sarup63, 27 Nov 2023 13:45
Last post: sarup63, 27 Nov 2023 13:45
How come everyone is quiet?!
Started: stargate, 10 Nov 2023 04:08
Last post: stargate, 10 Nov 2023 04:08
Highest volume for 5 years on 8/11/23, carries great significance for change in equity direction to trend up. Also bullish positive divergence , on the RSI(relative strength index. Bullish pivot breaks upward on RMV, and also in the sector chart. Sp, targets, are 500 and 540. Upper, Bollinger band turned down, 7 days ago, while the lower Bollinger band continued to fall. This is,a bullish event, usually signalling a rally, within 10 days, as evidenced in today's rally .
Started: moneyline, 24 Oct 2023 11:10
Last post: moneyline, 24 Oct 2023 11:10
I’m an estate agent in London, have been for the last 10 years. Whilst we advise on all major portals as a marketing selling point, the lions share of enquiries and leads come from Rightmove. They have such a huge monopoly when people look to search for properties, I rarely use zoopla, on the market or other portals for market updates and checking other stock on the market. They have monopolised the market hence why the charge such a premium. I don’t see them losing out in the on the market situation, they like Google will still remain the number one property portal. However, with such a large company backing on the market we could see a reduction in rightmove overall costs to agents ( here’s hoping! ) to continue to remain at the top. No agent is going to get rid of rightmove in order to try another portal, it’s like people only wanting to be found on yahoo and not Google. It’s an interesting one to watch for sure, I have topped up my position in this today with a 3-5 year view on Rightmove remaining the number one.
Started: Keepit, 19 Oct 2023 16:48
Last post: Twiggysparks, 23 Oct 2023 10:30
The UK public don’t love Roghtmove they just have name recognition. Thats massive of course but don’t mistake it for love of a product.
Homes.com has way more info that Rightmove does to be honest, I can’t honestly believe you would suggest otherwise.
This absolutely isn’t Purple bricks, boomin etc all over again. CoStar are a massive global organisation with Billions in revenue who have a history in residential property in one of the biggest markets in the world doing exactly what they are saying they are going to do over here.
As I have said previously I don’t expect them to topple Rightmove as number 1 any time soon, if ever, but it’s going to take a portion of market share away from them.
The uk public love rightmove and there is no reason for them to change, therefore agents will be unable to change. This is boomin, purple bricks, Zoopla, on the market all over again. Also just checked out homes.com, genuinely thought it was poor compared to rightmove, it was bland at best
Costar aren’t coming to help agents, ultimately they want their money, and ultimately probably more than rightmove charge now in time. When people think about moving in this country, their very next move is rightmove. That will not be easy to change. Also if you are an agent you’ve got to have big balls to drop the uk’s biggest website by a country mile and then go and sit in Someone’s front room and pitch for their business, agents will not be queuing up for that scenario. I genuinely think costar will find this harder than they think. Just my opinion but let’s see.
Agents are crying out for a different option, there just hasn’t been one good enough yet.
CoStar have done this in the States already and changed the game and are already big in the UK in Commercial property so aren’t starting from nowhere, they have been taking on Rightmove commercial for a year or so already.
Honestly do some research into them and their CEO, they are going to attack the market like nobody has seen before. They will outspend Rightmove by miles and they will be innovative.
I am not predicting Armageddon for Rightmove or anything but this will definitely impact their market share over the long term.
That’s fine, but they will have to convince 1000’s of agents that they don’t need rightmove anymore which is not an easy thing to do. Uk agents can’t afford to pay for both large portals, so good luck convincing an agent that they don’t need rightmove to sell houses which has served them well for many many years. They would have to lure a big player like Connels group who who are the UK’s largest ea group by a mile. It’s pie In the sky stuff if you ask me. I’ve been in the property industry for 21 years Rightmove is a lean mean profit making machine. Rightmove has got plenty of scope for more adverting and wouldn’t have to up it by much to maintain market share. Just my opinion. There are always market disrupters, I mean just look at purple bricks and how well they done . . . . Oh hang on
Good analysis of the post colonial, post brexit , and indeed post covid over stimulated economy Porsche, and my question is what do you suggest we do to improve our lot? If you don't mind sharing, what are your plans , beyond talking us all into depression ?
Porche gets paid around 5-10p per each negative post
It's public information
He is in bed with tony999 and dogger
All the same. Living a lie and they will die lying and wake up in hell
Quite short sighted in my view
This sad little man spends his day going from board to board talking the companies down. Clearly hiding some resentment for a bad investment or something. We can only hope
For what's it's worth, looks like these are a great buy at 500p.
Well if drops much more another big US firm May take out RMV
How you getting on with those charts stargate? This is the ftse 100 we are talking about, dog index of the world🤡😂
Started: stargate, 12 Oct 2023 10:15
Last post: stargate, 12 Oct 2023 10:15
Price target 632. Both RMV, and sector chart have accomplished bullish pivot breaks, upward.
Started: HappyInvestor100, 18 Aug 2023 15:28
Last post: HappyInvestor100, 18 Aug 2023 15:28
Message appears: "no healthy upstream".
Can someone else try?
Started: stargate, 31 Jul 2023 15:11
Last post: stargate, 31 Jul 2023 15:11
The one year chart reveals a bullish cup and handle formation, which gives a price target of 748.6, if sp, can maintain current price today of 571.60. Sp, requires to stay above price pivot at 568.20, to remain bullish short term. The down trendline from December 2021, is broken, upward, so bullish. The bottom 2 weeks on 26/6/23, taken together amount to a bullish doji, signalling acquisition at that bottom. RSI(relative strength)is above 50, which confirms a bullish trend.
Started: Thunder2040, 27 Sep 2022 17:33
Last post: shandypants2, 3 Mar 2023 12:57
a PE of 25 does seem high. Would expect 15 to 20 tops IMHO
It is insanely overvalued. The plug has already been pulled but seeing as though RMV had first mover advantage and sits is at the top of the sink, it isn't feeling the effects of the water rushing down the drain just yet. But as per every major company that heads towards a crash they 'think' won't affect them because they are too big to fail, at first it happens very slowly and then it happens incredibly rapidly.
Be afraid.
Rightmove have got away with it for years, I’m amazed no one has come in and blown them out of the water! They are nothing without the good will of the agents (who mostly hate RM) but are currently forced to list with them as there’s no credible alternative….. yet!
My thoughts are: if mortgage lending dries up surely volume would decline, but then there could be forced sells to counter I guess. If house prices do come down 20%, does that mean rightmove fees come down? Either way, p/e 20+ seems excessive atm
It's a pretty good cash cow and the price of the shares now is the same as it was in April 2020 when the market in general was just off the lows of March but still talking about hundreds of thousands of deaths due to Covid. It's still the first point of call for many looking to buy a house (autotrader equivalent). But yes to think it's valued at 4.3 billion when BT with revenue of over 20 billion is only worth 3 times as much does seem hard to comprehend. The point is whether the housing market collapses or not - not sure it will if unemployment stays low and the country's population moves ever upward but this and housebuilder shares suggest a lot of people think otherwise.
Started: CityWatcher, 28 Oct 2022 13:39
Last post: CityWatcher, 28 Oct 2022 13:39
Maybe the upbeat post in today's CITY A.M. for Foxton's will boost the Rightmove share price.
FOXTONS shares closed up almost 7% yesterday after it reported a 25% spike in revenue in the third quarter compared to 2021.
The British estate agent's overall intake came in at £43.8m for the three months to September compared to £35.1m last year in the same period. This driven by an increase in it's lettings , sales and financial service sectors, with a significant 44% increase in it's sales. It's lettings were up almost 20% too. Their financial services increased almost 40%.
The company said it was confident for the rest of the year.
Started: Questionsabout, 23 Dec 2021 13:30
Last post: f15jcm, 26 Sep 2022 12:16
I've been short here since 1st August. Doing quite nicely :)
https://twitter.com/F15JCM/status/1554054807052292098
Good buying opportunity here.
Get out just before the drop its going to sink before Xmas and I do need the money so ta ta ta
Even with there buying and the jump this morning this is well over priced and I would not be surprized to see a very big drop to £6.00.
It seems there trying to buy your confidence hmmm I think the only thing there doing is preventing the inevitable £6.00 here we come and lower
Dout much will be able to move this current trend is down and £6.00 is where it's going they buy all the shares they want either way it will be going down.
Maybe some news coming tomorrow and this may take it off the roof from what Ive heard so maybe worth putting a buy in sooner rather than later.
Not been announced yet so would like to take a gamble until it's official been announced.
Morning all I agree very long way off yet would be risky to even consider buying at this price.
I agree I'll wait until it gets below £6.00 BEFORE i even consider putting money been on a continuous uptrend for a long time.
Started: mrsax, 8 Oct 2021 09:08
Last post: mrsax, 8 Oct 2021 09:45
Most would assume it would be better to accumulate more as you get to the bottom and I think we are along way off.
Thats Very valid point and I thought they were the clever ones clearly someone in there higher management needs to be having a word.
Morning all yea I concur with Christmas only a fool would be buying now and IMO right move seem to be the fools business boom is shutting down towards the end of the year so why they don’t wait I have idea.
I had a little morning chuckle at that. With Christmas just round the corner that will be another reason to get out but there overpriced in my opinion would see fair value around £4.50 with to £5.50 away to go yet but I'll be interested around these levels
I'm glad I got out before xmas otherwise I'd be having baked beans and toast.
Started: Marctomlinson, 6 Oct 2021 09:47
Last post: Marctomlinson, 6 Oct 2021 09:47
Certainly will be there shortly but I Still see £4.50
Started: usually_right, 14 Jun 2021 09:58
Last post: usually_right, 14 Jun 2021 09:58
sold position here. they look pretty fully valued to me at this price. technically maybe still room for them to move up to 670/690 but with ftse tapping resistance today, its one that had to go after its strong run. prepared to get involved again by 6 quid.
Barnet...I also hate estate agents!! If you ask anyone you know where they look when buying a house, I bet 99% will say Rightmove. The last 3 houses I have sold I have advertised them myself to avoid getting ripped off by agents, 2 in France, 1 in Uk. The only thing I have been bothered about is getting them on RM. The UK one, I used emoove to get it on RM, the French ones you can actually put a private sale on yourself without using an agent, so all good. On the Market are crap, their website is atrocious, so while everyone in their right mind wants their house on RM, agents really do not have a choice.
I hate estate agents, so many times we buyers, sellers, landlords and renters had been rigged. There are about one third of the market do not go to webs, and some special websites for professionals. The digital market is competitive already, but Rightmove is dominant. I have used Rightmove for over ten years, found Zoopla useless after a try, never use On The Market.
Boomin hasn't even launched yet so won't be a challenger for a few years.
RM must be worried about On the Market. Number of properties and visitors rising every month.
Cost for advertising less than £150 v£1k for RM.
Also part owned by estate agents.
Estate agents hate RM, so doesn't bode well long term
https://www.helmsmen.co.uk/insights/what-does-say-no-to-rightmove-mean-for-future-of-property-market/
Why would the agents give up Rightmove and jump on others?
RMV is back on rising after the traditional winter's low sales.
Yes all Boomin client base is agents. The money is not from the agents though. Research it
Started: Barnet, 12 Mar 2021 12:08
Last post: Barnet, 21 Mar 2021 16:37
Almost all the estate agents are the same, trying to generate incomes not only from sellers.
Find a decent estate agent then
We individuals pay a lot to estate agencies every time, and estate agencies pay a small annual fee to Rightmove, what a game! Last time I paid £6000.00 to the estate agency to just to secure my offer on a house, and they still wanted me to take a mortgage and home insurance through them. Anyway I made 20 times paper value in 2 years than I paid for that fee.
Started: TwentiesTrader, 7 Mar 2021 23:51
Last post: TwentiesTrader, 7 Mar 2021 23:51
Hi all, a new article on Rightmove analysing the recent results and future outlook available on my website here: https://www.thetwentiestrader.com/post/are-rightmove-shares-worth-buying
Started: Danny-G, 14 Oct 2020 21:39
Last post: themushroom, 21 Feb 2021 16:05
Just curious, what evidence do you have to support this? Or is this a hunch?
All the best.
Nice and steady. This will continue to rise to £8 before the end of the year.
Started: Tornadotony, 19 Jan 2021 21:30
Last post: Tornadotony, 19 Jan 2021 22:31
Fixed it. Browser issue.
Unable to use the map when looking at properties. Also any photos uploaded can not be viewed. This has gone on for 48 hours. I wonder when they will fix it.