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

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

Analyst Ratings Changes

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

Rightmove Stock Down 12.5%

The firm has a market cap of £4.40 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The company’s 50-day simple moving average is GBX 697.98 and its 200 day simple moving average is GBX 744.35. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55.

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.