Rightmove (LON:RMV) Shares Down 12.5% – Time to Sell?

Rightmove plc (LON:RMV)’s stock price dropped 12.5% on Saturday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares changed hands 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.

Analyst Upgrades and Downgrades

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

Rightmove Price Performance

The stock’s 50 day simple moving average is GBX 697.98 and its two-hundred day simple moving average is GBX 744.39. The firm has a market capitalization of £4.40 billion, a PE 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.

Rightmove Company Profile

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.