ISA investing: this is what I’m doing about the Next share price right now!
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Despite the damage of Covid-19 restrictions, the
Next(LSE: NXT) share price has been on a happy trip over the past 12 months. Prices of the UK retail share have soared almost 60% since this time last year as sales across its online operations have impressed. Its digital division now accounts for two-thirds of group turnover following a 10% rise in online sales in the last fiscal year (to January).
The rocketing Next share price doesn’t mean it looks expensive on paper however. City predictions that annual earnings will soar 99% this financial year leaves the company trading on a bargain price-to-earnings growth (PEG) ratio of 0.2. Investing theory dictates that a reading below 1 suggests a UK share might be undervalued.