Rightmove (LON:RMV) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Rightmove plc (LON:RMV) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 652.75 and traded as low as GBX 500.20. Rightmove shares last traded at GBX 504.28, with a volume of 168,003,609 shares changing hands.

Wall Street Analysts Forecast Growth

RMV has been the topic of a number of analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a report on Friday, November 7th. Royal Bank Of Canada raised Rightmove to an “outperform” rating and decreased their price objective for the stock from GBX 805 to GBX 775 in a report on Monday, November 10th. JPMorgan Chase & Co. raised their target price on Rightmove from GBX 500 to GBX 527 and gave the company an “underweight” rating in a report on Wednesday, December 3rd. Jefferies Financial Group cut their target price on Rightmove from GBX 485 to GBX 465 and set an “underperform” rating on the stock in a research report on Tuesday, November 25th. Finally, Berenberg Bank lowered their price target on Rightmove from GBX 850 to GBX 785 and set a “buy” rating for the company in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 708.67.

Rightmove Stock Up 0.6%

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 has a 50-day simple moving average of GBX 523.17 and a 200-day simple moving average of GBX 652.75. The firm has a market capitalization of £3.85 billion, a PE ratio of 19.48, a P/E/G ratio of 2.58 and a beta of 1.05.

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.