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

Rightmove plc (LON:RMV)’s stock price was down 12.5% during trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares changed 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

A number of research firms have recently weighed in on RMV. Berenberg Bank lifted their price target on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. Peel Hunt restated a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a research report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 815 price target on shares of Rightmove in a research note on Monday, July 28th. Finally, Royal Bank Of Canada raised their price target on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Three equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of GBX 796.40.

Rightmove Stock Performance

The stock has a market cap of £4.40 billion, a P/E ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The company has a fifty day moving average of GBX 697.98 and a 200 day moving average of GBX 744.35.

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.