Rightmove (LON:RMV) Shares Down 13.5% – Here’s What Happened

Rightmove plc (LON:RMV)’s stock price was down 13.5% during mid-day trading on Friday . The company traded as low as GBX 474.50 and last traded at GBX 567. Approximately 912,417,500 shares were traded during mid-day trading, an increase of 9,748% from the average daily volume of 9,265,184 shares. The stock had previously closed at GBX 655.40.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RMV. Berenberg Bank boosted their target price on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a report on Monday, July 28th. Finally, Royal Bank Of Canada boosted their target price on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research note on Monday, July 28th. Three research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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 PEG 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 firm has a fifty day simple moving average of GBX 697.98 and a two-hundred day simple moving average of GBX 744.37.

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.