Rightmove (LON:RMV) Stock Price Down 12.5% – Should You Sell?

Rightmove plc (LON:RMV)’s share price traded down 12.5% 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Peel Hunt reissued a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research report on Friday. Royal Bank Of Canada boosted 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 target price on shares of Rightmove in a research report on Monday, July 28th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Finally, Berenberg Bank boosted their price objective on shares of Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 796.40.

Rightmove Stock Down 12.5%

The stock has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The firm has a 50-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.

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.