Rightmove : A good start to 2024, our full-year expectations are unchanged
>Underperform recommendation reiterated - On Friday, 26 July, Rightmove reported interim 2024 results broadly in line with our expectations and held its conference call afterwards. ARPA (average revenue per advertiser) rebounded to £1,497, up 6% on H1 2023, mainly driven by the 9% increase in ARPA for New Homes in a difficult UK property market.We are maintaining our estimates for 2024 unchanged following this publication. Note the group will be investing in deve...Rightmove operates as an online property portal. Co. provides consumers with a place to search and research U.K. property and by providing its customers a place to reach home hunters. Co.'s segments are: The Agency, which provides resale and lettings property advertising services on Co.'s platforms; and The New Homes, which provides property advertising services to new home developers and housing associations on Co.'s platforms. Co.'s customers are primarily estate agents, lettings agents and new homes developers advertising properties for sale and to rent. Co. also provides software, delivering data, market insight and tools that provides insight, analysis and risk assessment tools.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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