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

Shares of Rightmove plc (LON:RMV) fell 12.5% during mid-day trading on Saturday . The stock 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.

Analyst Ratings Changes

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

Rightmove Stock Performance

The company has a market cap 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 quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The firm has a fifty day simple moving average of GBX 697.98 and a 200-day simple moving average of GBX 744.35.

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.