Rightmove (LON:RMV) Trading Down 12.5% – Here’s Why

Shares of Rightmove plc (LON:RMV) fell 12.5% on Friday . The stock 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RMV. Berenberg Bank upped their price target on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Royal Bank Of Canada raised 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 price target on shares of Rightmove in a research note on Monday, July 28th. Finally, Peel Hunt restated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research report on Friday. 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of GBX 796.40.

Rightmove Price Performance

The firm has a 50-day simple moving average of GBX 697.98 and a 200-day simple moving average of GBX 744.37. The firm has a market capitalization of £4.40 billion, a PE ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. 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.