Rightmove (LON:RMV) Trading Down 12.5% – Time to Sell?

Rightmove plc (LON:RMV)’s stock price was down 12.5% during trading on Friday . 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

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

Rightmove Stock Down 12.5%

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

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.