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

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

Wall Street Analyst Weigh In

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

Rightmove Trading Down 12.5%

The company has a fifty day simple moving average of GBX 697.98 and a two-hundred day simple moving average of GBX 744.39. The company 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 current ratio of 1.83 and a quick ratio of 2.55.

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.