Rightmove (LON:RMV) Trading Down 16.7% – Here’s What Happened

Rightmove plc (LON:RMV) shares were down 16.7% during trading on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 546.20. Approximately 906,874,875 shares changed hands during mid-day trading, an increase of 9,715% from the average daily volume of 9,239,642 shares. The stock had previously closed at GBX 655.40.

Wall Street Analysts Forecast Growth

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

Rightmove Price Performance

The firm has a market capitalization of £4.40 billion, a P/E 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 business has a fifty day moving average of GBX 697.98 and a 200-day 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.