Rightmove (LON:RMV) Shares Down 12.5% – Should You Sell?

Rightmove plc (LON:RMV) dropped 12.5% during mid-day trading on Saturday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares were traded during trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMV. 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. Peel Hunt reaffirmed a “buy” rating and set a GBX 885 target price on shares of Rightmove in a research report on Friday. Berenberg Bank lifted their price target on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Finally, Royal Bank Of Canada upped their price objective on Rightmove from GBX 750 to GBX 805 and gave the stock 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rightmove presently has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Trading Down 12.5%

The company has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The company’s 50 day simple moving average is GBX 697.98 and its two-hundred day simple moving average is 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.