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

Rightmove plc (LON:RMV) fell 12.5% during mid-day trading on Friday . The company 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.

Analyst Ratings Changes

A number of brokerages have recently commented on RMV. Royal Bank Of Canada boosted their price objective on shares of Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 price target on shares of Rightmove in a research note on Monday, July 28th. Peel Hunt restated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research note on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Finally, Berenberg Bank upped their target price on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Three investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Trading Down 12.5%

The business’s 50 day moving average price is GBX 697.98 and its 200-day moving average price is GBX 744.37. 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 company has a market cap of £4.40 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05.

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.