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

Shares of Rightmove plc (LON:RMV) fell 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 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 Analyst Weigh In

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

Rightmove Trading Down 12.5%

The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The firm’s 50 day moving average is GBX 697.98 and its two-hundred day moving average is GBX 744.37. The stock has a market cap 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.

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.