Rightmove (LON:RMV) Trading Down 12.5% – What’s Next?

Rightmove plc (LON:RMV) fell 12.5% on Saturday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares changed 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

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

Rightmove Price Performance

The stock has a fifty day simple moving average of GBX 697.98 and a 200-day simple moving average of GBX 744.35. The company has a market capitalization of £4.40 billion, a PE ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. 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.