JPMorgan Chase & Co. Issues Pessimistic Forecast for Rightmove (LON:RMV) Stock Price

Rightmove (LON:RMV) had its target price dropped by stock analysts at JPMorgan Chase & Co. from GBX 555 to GBX 500 in a report released on Tuesday, MarketBeat reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 7.15% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Peel Hunt reiterated a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a report on Friday, November 7th. Royal Bank Of Canada raised Rightmove to an “outperform” rating and cut their price objective for the company from GBX 805 to GBX 775 in a research report on Monday, November 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 target price on shares of Rightmove in a research note on Monday, July 28th. Berenberg Bank decreased their target price on Rightmove from GBX 850 to GBX 785 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, Jefferies Financial Group cut their price target on shares of Rightmove from GBX 485 to GBX 465 and set an “underperform” rating on the stock in a report on Tuesday. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 704.17.

Rightmove Stock Up 0.3%

Shares of LON RMV opened at GBX 538.50 on Tuesday. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The company has a market cap of £4.13 billion, a P/E ratio of 20.71, a PEG ratio of 2.58 and a beta of 1.05. Rightmove has a 1 year low of GBX 474.50 and a 1 year high of GBX 827. The firm has a 50-day simple moving average of GBX 651.82 and a two-hundred day simple moving average of GBX 727.31.

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.