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

Rightmove plc (LON:RMV) was down 12.5% during mid-day trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares changed hands during mid-day trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RMV shares. Royal Bank Of Canada boosted their target price on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research report on Monday, July 28th. Peel Hunt reissued a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a report on Monday, July 28th. Berenberg Bank increased their target price on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Stock Down 12.5%

The stock has a market cap of £4.40 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The business has a fifty day moving average of GBX 697.98 and a 200-day moving average of GBX 744.39. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55.

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.