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

Rightmove plc (LON:RMV) shares traded down 12.5% on Saturday . The company 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 analysts have issued reports on the company. Royal Bank Of Canada boosted their price objective on Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a report 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 objective on shares of Rightmove in a research note on Friday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Finally, Berenberg Bank raised their target price on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Price Performance

The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The stock’s 50 day moving average price is GBX 697.98 and its two-hundred day moving average price is GBX 744.39. 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.

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.