Rightmove (LON:RMV) Stock Price Down 13.1% – Here’s What Happened

Rightmove plc (LON:RMV)’s share price fell 13.1% on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 569.54. 911,986,250 shares were traded during mid-day trading, an increase of 9,745% from the average session volume of 9,263,196 shares. The stock had previously closed at GBX 655.40.

Analyst Ratings Changes

A number of research firms recently issued reports on RMV. Berenberg Bank lifted their target price on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Peel Hunt restated a “buy” rating and set a GBX 840 target price on shares of Rightmove in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 787.40.

Rightmove Stock Down 13.2%

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 firm has a market capitalization of £4.36 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The business’s 50-day moving average price is GBX 701.37 and its 200-day moving average price is GBX 745.52.

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.