Purplebricks Group share price pulls back.
The share price of Purplebricks Group PLC finished the day yesterday at 120p, that is almost a drop of around 25% since Jeffries put out a broker rating on it just one week ago.
The research report issued by Jefferies International on the 31st May rated Purplebricks as ‘Underperform’ by analysts at the brokerage, they issued a target price of 94p on Purplebricks Group PLC’s stock.
Just three weeks prior to the report from Jeffries, Purplebricks said trading had been strong, with full year revenues expected to increase 445% to £18.5million.
Purplebricks will be issuing its Preliminary results for the year ending 30 April 2016 on 16 June.