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

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

Analyst Ratings Changes

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

Rightmove Stock Down 12.5%

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 cap of £4.40 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. The stock’s 50-day moving average is GBX 697.98 and its 200-day moving average is GBX 744.35.

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.