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

Rightmove plc (LON:RMV) dropped 12.5% during trading on Friday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares were traded during trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Berenberg Bank lifted their price objective on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. Peel Hunt reissued a “buy” rating and set a GBX 885 target price on shares of Rightmove in a research note on Friday. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 815 price target on shares of Rightmove in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rightmove presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 796.40.

Rightmove Trading Down 12.5%

The company has a fifty day moving average of GBX 697.98 and a 200-day moving average of GBX 744.35. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The company 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.

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.