Rightmove (LON:RMV) Stock Price Down 13.5% – What’s Next?

Rightmove plc (LON:RMV)’s share price fell 13.5% during mid-day trading on Friday . The company traded as low as GBX 474.50 and last traded at GBX 567. 912,417,500 shares were traded during mid-day trading, an increase of 9,748% from the average session volume of 9,265,184 shares. The stock had previously closed at GBX 655.40.

Wall Street Analyst Weigh In

RMV has been the subject of a number of recent analyst reports. Berenberg Bank raised their price objective on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Peel Hunt reiterated a “buy” rating and issued a GBX 840 target price on shares of Rightmove in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a research note on Monday, July 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Finally, Royal Bank Of Canada lifted their target price on Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 787.40.

Rightmove Trading Down 13.5%

The company has a 50 day moving average price of GBX 701.37 and a two-hundred day moving average price of GBX 745.52. The firm has a market capitalization of £4.35 billion, a price-to-earnings ratio of 21.81, a P/E/G 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.

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.