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

Shares of Rightmove plc (LON:RMV) traded down 12.5% on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares traded hands 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 Upgrades and Downgrades

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

Rightmove Price Performance

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 market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The business’s 50 day simple moving average is GBX 697.98 and its 200-day simple moving average is 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.