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

Rightmove plc (LON:RMV)’s stock price 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 traded 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Peel Hunt reaffirmed a “buy” rating and set a GBX 885 target price on shares of Rightmove in a research note on Friday. Royal Bank Of Canada boosted their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Berenberg Bank increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 815 price target on shares of Rightmove in a research 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 presently has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Stock 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 has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The stock’s fifty day simple moving average is GBX 697.98 and its 200-day simple moving average is GBX 744.39.

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.