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

Shares of Rightmove plc (LON:RMV) fell 12.5% during trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares changed hands 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

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

Rightmove Price Performance

The company has a market capitalization of £4.40 billion, a PE ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The stock has a fifty day simple moving average of GBX 697.98 and a 200-day simple moving average of GBX 744.39.

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.