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

Rightmove plc (LON:RMV)’s share price traded down 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 trading, an increase of 367% from the average session volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analysts Set New Price Targets

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

Rightmove Trading Down 12.5%

The firm 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 debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. The company has a 50 day moving average price of GBX 697.98 and a two-hundred day moving average price 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.