Rightmove (LON:RMV) Shares Down 12.7% – Time to Sell?

Rightmove plc (LON:RMV) shares were down 12.7% during mid-day trading on Friday . The company traded as low as GBX 474.50 and last traded at GBX 572.40. Approximately 915,742,250 shares traded hands during trading, an increase of 9,767% from the average daily volume of 9,280,505 shares. The stock had previously closed at GBX 655.40.

Wall Street Analysts Forecast Growth

RMV has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price 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. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Berenberg Bank increased their price objective on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 815 price target on shares of Rightmove in a research report on Monday, July 28th. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a report on Friday. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rightmove currently has an average rating of “Moderate Buy” and a consensus target price of GBX 796.40.

Rightmove Price Performance

The stock has a fifty day moving average price of GBX 701.37 and a 200-day moving average price of GBX 745.52. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. The firm has a market capitalization of £4.40 billion, a PE ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05.

About Rightmove

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.