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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RMV shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 815 price target on shares of Rightmove in a research note on Monday, July 28th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Peel Hunt reiterated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research report on Friday. Berenberg Bank raised their target price on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada increased their price objective on Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Four investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 796.40.

Rightmove Price Performance

The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The stock has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. The stock’s 50 day simple moving average is GBX 701.37 and its 200-day simple moving average is GBX 745.52.

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.