Rightmove (LON:RMV) Stock Price Down 12.5% – Here’s What Happened

Rightmove plc (LON:RMV)’s stock price fell 12.5% during mid-day 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.

Analysts Set New Price Targets

RMV has been the subject of several research analyst reports. Royal Bank Of Canada upped 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. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a research report on Monday, July 28th. Berenberg Bank lifted their target price on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research report on Friday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 796.40.

Rightmove Stock Down 12.5%

The firm has a market capitalization of £4.40 billion, a P/E ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. The firm’s 50 day moving average is GBX 697.98 and its two-hundred day 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.