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

Shares of Rightmove plc (LON:RMV) dropped 12.5% during trading on Saturday . The company 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 Ratings Changes

Several equities analysts recently weighed in on the stock. Peel Hunt restated a “buy” rating and set a GBX 885 target price on shares of Rightmove in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a research report on Monday, July 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Royal Bank Of Canada increased their target price on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research note on Monday, July 28th. Finally, Berenberg Bank boosted their price target 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Rightmove has an average rating of “Hold” and an average price target of GBX 796.40.

Rightmove Stock Performance

The stock’s 50-day moving average price is GBX 697.98 and its 200-day moving average price is GBX 744.35. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The company has a market capitalization of £4.40 billion, a P/E ratio of 22.07, 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.