JPMorgan Chase & Co. Has Lowered Expectations for Rightmove (LON:RMV) Stock Price

Rightmove (LON:RMV) had its price target reduced by equities researchers at JPMorgan Chase & Co. from GBX 489 to GBX 404 in a research report issued to clients and investors on Tuesday,London Stock Exchange reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 7.76% from the stock’s current price.

A number of other brokerages have also recently issued reports on RMV. UBS Group reiterated a “neutral” rating and set a GBX 481 price objective on shares of Rightmove in a report on Tuesday, May 5th. Citigroup dropped their price target on shares of Rightmove from GBX 520 to GBX 455 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 633.13.

Rightmove Stock Up 0.6%

Shares of LON RMV traded up GBX 2.40 during midday trading on Tuesday, hitting GBX 438. 30,929,518 shares of the stock traded hands, compared to its average volume of 36,215,711. The company has a market cap of £3.26 billion, a PE ratio of 15.64, a P/E/G ratio of 2.58 and a beta of 0.88. Rightmove has a one year low of GBX 391.40 and a one year high of GBX 827. The business has a 50 day moving average price of GBX 431.31 and a two-hundred day moving average price of GBX 463.10. The company has a debt-to-equity ratio of 13.13, a quick ratio of 2.55 and a current ratio of 1.89.

Insider Buying and Selling at Rightmove

In other news, insider Amanda James bought 6,016 shares of the stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of GBX 413 per share, for a total transaction of £24,846.08. Also, insider Lorna Tilbian acquired 3,600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of GBX 403 per share, for a total transaction of £14,508. Insiders own 0.42% of the company’s stock.

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.