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

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

Wall Street Analyst Weigh In

Several analysts have commented on RMV shares. Peel Hunt reissued a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research report on Friday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Royal Bank Of Canada lifted 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. Berenberg Bank upped their price target on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Price Performance

The company has a market cap of £4.40 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. 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 stock has a 50 day moving average of GBX 697.98 and a 200-day moving average of GBX 744.35.

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.