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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RMV. Berenberg Bank upped their target price on shares of 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 price objective on shares of Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 815 target price on shares of Rightmove in a research note on Monday, July 28th. Peel Hunt reiterated a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a research note on Friday. Finally, JPMorgan Chase & Co. reissued 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rightmove has a consensus rating of “Hold” and a consensus target price of GBX 796.40.

Rightmove Price Performance

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 company’s 50-day moving average price is GBX 697.98 and its two-hundred day moving average price is GBX 744.39. The company has a market cap of £4.40 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05.

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.