Rightmove (LON:RMV) Hits New 12-Month Low – What’s Next?

Rightmove plc (LON:RMV)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 473.70 and last traded at GBX 475.30, with a volume of 16224094 shares traded. The stock had previously closed at GBX 495.30.

Analyst Ratings Changes

A number of research firms have issued reports on RMV. Berenberg Bank cut their price objective on shares of Rightmove from GBX 850 to GBX 785 and set a “buy” rating on the stock in a report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on shares of Rightmove from GBX 500 to GBX 527 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Peel Hunt restated a “buy” rating and set a GBX 885 price target on shares of Rightmove in a report on Friday, November 7th. Royal Bank Of Canada raised shares of Rightmove to an “outperform” rating and reduced their price objective for the stock from GBX 805 to GBX 775 in a research report on Monday, November 10th. Finally, Jefferies Financial Group dropped their target price on shares of Rightmove from GBX 485 to GBX 465 and set an “underperform” rating on the stock in a research report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of GBX 708.67.

Rightmove Trading Down 6.7%

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 market cap of £3.33 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The firm’s 50-day simple moving average is GBX 513.38 and its 200 day simple moving average is GBX 637.74.

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.