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

Shares of Rightmove plc (LON:RMV) dropped 12.5% during trading 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 mid-day trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Wall Street Analysts Forecast Growth

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

Rightmove Stock Performance

The company has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. 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 50 day simple moving average of GBX 697.98 and a two-hundred day simple moving average of GBX 744.39.

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.