Rightmove (LON:RMV) Shares Down 12.5% – Here’s Why

Rightmove plc (LON:RMV)’s share price was down 12.5% during trading on Friday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares traded hands during mid-day trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Wall Street Analyst Weigh In

Several analysts have issued reports on RMV shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 target price on shares of Rightmove in a research note on Monday, July 28th. Peel Hunt reissued a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a research note on Friday. Berenberg Bank lifted their target price on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada raised their price target on shares of Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 796.40.

Rightmove Trading Down 12.5%

The company’s fifty day moving average is GBX 697.98 and its 200-day moving average is GBX 744.35. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The firm has a market capitalization of £4.40 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05.

Rightmove Company Profile

Rightmove plc, together with its subsidiaries, operates online digital property advertising and information portals in the United Kingdom and internationally. The company operates through Agency, New Homes, and Other segments. The Agency segment provides property resale and letting advertising services on its platforms.