Canaccord Genuity Group Has Lowered Expectations for Moonpig Group (LON:MOON) Stock Price

Moonpig Group (LON:MOON) had its target price dropped by Canaccord Genuity Group from GBX 310 to GBX 300 in a report released on Friday,Digital Look reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 32.51% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Moonpig Group from GBX 275 to GBX 285 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 315 price objective on shares of Moonpig Group in a research report on Thursday. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 300 target price on shares of Moonpig Group in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Moonpig Group currently has an average rating of “Moderate Buy” and an average price target of GBX 299.29.

Moonpig Group Stock Down 1.4%

Shares of LON MOON traded down GBX 3.20 during mid-day trading on Friday, reaching GBX 226.40. 2,558,610 shares of the company’s stock were exchanged, compared to its average volume of 5,419,644. The firm has a market capitalization of £678.94 million, a price-to-earnings ratio of 16.41 and a beta of 0.97. The company has a current ratio of 0.30, a quick ratio of 0.46 and a debt-to-equity ratio of -271.84. The business has a fifty day simple moving average of GBX 214.96 and a 200 day simple moving average of GBX 211.94. Moonpig Group has a twelve month low of GBX 190.20 and a twelve month high of GBX 250.60.

Moonpig Group announced that its board has initiated a share repurchase plan on Thursday, May 7th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Moonpig Group News Roundup

Here are the key news stories impacting Moonpig Group this week:

• Positive Sentiment: Moonpig reported higher profit, revenue, and orders for the full year, with management also boosting the dividend and outlining a new share buyback plan. Moonpig lifts dividend as FY profits, revenue rise
• Positive Sentiment: Investors are also reacting to comments that the results make Moonpig’s shares look “crazy cheap,” reinforcing the view that the stock may still be undervalued after the rally. Moonpig results show its shares are ‘crazy cheap’, say brokers
• Positive Sentiment: Broker upgrades and reiterated “buy” ratings from firms including Jefferies and Berenberg, with price targets up to GBX 315, add more support for the stock. Moonpig boosts dividend and plans new buyback as profit beats forecast

About Moonpig Group

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.