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

Rightmove plc (LON:RMV) dropped 12.5% on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares were traded during 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 Upgrades and Downgrades

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

Rightmove Price Performance

The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The company has a market capitalization of £4.40 billion, a PE ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. The firm has a 50-day moving average of GBX 697.98 and a 200 day 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.