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

Shares of Rightmove plc (LON:RMV) fell 12.5% during mid-day trading on Saturday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares were traded 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.

Wall Street Analysts Forecast Growth

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

Rightmove Price Performance

The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. The firm has a fifty day simple moving average of GBX 697.98 and a two-hundred day simple moving average of GBX 744.37. The firm has a market cap of £4.40 billion, a PE ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05.

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.