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

Rightmove plc (LON:RMV)’s share price fell 12.5% during mid-day trading on Saturday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares were traded during 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 Upgrades and Downgrades

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

Rightmove Price Performance

The company’s 50 day simple moving average is GBX 697.98 and its 200 day simple moving average is GBX 744.39. 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 stock has a market cap of £4.40 billion, a P/E ratio of 22.07, a P/E/G 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.