Rightmove (LON:RMV) Trading Down 12.5% – What’s Next?

Rightmove plc (LON:RMV) shares traded down 12.5% during trading on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares were traded during trading, an increase of 367% from the average session volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analyst Ratings Changes

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

Rightmove Stock Performance

The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The firm has a 50-day moving average of GBX 701.37 and a 200 day moving average of GBX 745.52. The stock has a market capitalization of £4.40 billion, a P/E ratio of 22.07, a PEG 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.