Rightmove (LON:RMV) Trading Down 12.5% – Here’s What Happened

Shares of Rightmove plc (LON:RMV) fell 12.5% on Saturday . 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.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RMV shares. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Peel Hunt restated a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a report on Friday. Berenberg Bank raised their price target on shares of Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada increased 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rightmove presently has a consensus rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Stock Down 12.5%

The firm’s 50-day simple moving average is GBX 697.98 and its 200 day simple moving average is GBX 744.37. 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 company has a market capitalization 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.

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.