Rightmove Lays Groundwork for Agentic AI Leadership

Dow Jones
Sep 08

0918 GMT - Rightmove demonstrates clear platform superiority compared with peers and may yet prove to be a leader in agentic AI, Jefferies analysts say. Following its November strategy update, the property website is investing heavily in core utility and technology, expanding its data/AI team to 50 full-time roles and increasing product release, Jefferies says. It has successfully transitioned into a pro-investment stance, with capital allocated accordingly and decent evidence of execution, Jefferies says. "It retains a highly priced back-book and an operating free cashflow margin profile that has the taint of over-earning. But execution, thus far, of the new mission has been good," the analysts say. Jefferies upgrades its rating on the stock to hold from underperform. Shares are up 1.5% at 493.40 pence.

 

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