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

Rightmove plc (LON:RMV)’s share price traded down 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 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

Several research analysts have recently issued reports on RMV shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 target price on shares of Rightmove in a research note on Monday, July 28th. Royal Bank Of Canada upped their price objective on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research report on Monday, July 28th. Berenberg Bank increased their target price on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Peel Hunt reissued a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a report on Friday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Three 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, the stock has an average rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Stock Performance

The firm 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. The business’s 50 day simple moving average is GBX 697.98 and its two-hundred day simple moving average is GBX 744.37.

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.