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

Rightmove plc (LON:RMV) shares traded down 12.5% during trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares changed 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.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Berenberg Bank boosted their price objective on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a research note on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 target price on shares of Rightmove in a report on Monday, July 28th. Royal Bank Of Canada boosted their price target on Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rightmove presently has an average rating of “Hold” and an average target price of GBX 796.40.

Rightmove Trading Down 12.5%

The stock 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 debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. The company’s 50-day moving average price is GBX 697.98 and its 200 day moving average price is GBX 744.35.

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.