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Rightmove's central valuation estimate has been revised, with fair value adjusted from £6.23 to £5.75 per share. This sits against a split in recent analyst commentary, where some brokers still back higher targets such as £7.65, while more cautious houses cluster nearer the low £5 range. As you read on, you will see how these shifting targets feed into the evolving narrative around what the current share price may already be pricing in and how to keep track of it.
Stay updated as the Fair Value for Rightmove shifts by adding it to your watchlist or portfolio . Alternatively, explore our Community to discover new perspectives on Rightmove.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
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RBC Capital, through analyst Anthony Codling, maintains an Outperform rating with a price target of 765 GBp, which sits well above the more cautious targets and signals confidence in Rightmove's ability to support a higher valuation over time.
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The RBC stance suggests ongoing belief in Rightmove's core business model and its potential to justify a premium rating compared with lower broker targets around the low £5 range.
🐻 Bearish Takeaways
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Morgan Stanley has shifted to an Underweight rating from Equal Weight, cutting its price target to 510 GBp from 815 GBp. This underscores concern about execution risks and the level of expectations embedded in previous valuations.
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JPMorgan also keeps an Underweight rating, with its latest published target at 521 GBp after a series of reductions. This points to a view that current market expectations for growth and profitability may be demanding.
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The cluster of targets from Morgan Stanley and JPMorgan around the low £5 range offers a reference point for readers who want to compare more cautious scenarios with higher bullish targets such as RBC's.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!
We've flagged 1 risk for Rightmove. See which could impact your investment.
What's in the News
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The Board has proposed a final dividend of 6.59 pence per qualifying ordinary share for the year ended 31 December 2025, with a total cash outlay of £49,500,000 and an expected payment date of 22 May 2026, subject to shareholder approval.
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Rightmove has announced a share repurchase program of up to £90m, with all repurchased shares to be cancelled and the program scheduled to run until 31 July 2026.
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The Board approved a buyback plan on 27 February 2026, setting a framework for continued capital returns through share repurchases.
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Between 1 July 2025 and 31 December 2025, Rightmove repurchased 12,295,037 shares for £76.1m and in total has bought back 15,489,884 shares for £98.92m under the 13 May 2025 program, reducing the share count by 2.01%.
How This Changes the Fair Value For Rightmove
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Fair value revised from £6.23 to £5.75 per share.
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Revenue growth assumption adjusted from 8.52% to 8.72%.
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Net profit margin updated from 48.64% to 47.83%.
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Future P/E multiple trimmed from 23.08x to 20.76x.
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Discount rate moved from 8.59% to 8.71%.
Never Miss an Update: Follow The Narrative
Narratives link a company's business story, its industry context, and analyst assumptions to a financial forecast and fair value. They update as new data, research, and expectations come through so you can see how the story is evolving in one place.
Head over to the Simply Wall St Community and follow the Narrative on Rightmove to stay up to date on:
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How high platform engagement and new AI driven tools are being used to support traffic, agent demand, and monetisation across the portal.
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Progress in newer verticals such as mortgages, rental services, and commercial, and what premium agent packages and high retention indicate about pricing power.
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Key risks around agent churn, UK only exposure, and rising competition from other property portals that could pressure ARPA, margins, and diversification of growth.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include RMV.L .
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
