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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Peel Hunt restated a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a report on Friday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Berenberg Bank lifted their price target on shares of Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 815 price target on shares of Rightmove in a research report on Monday, July 28th. Finally, Royal Bank Of Canada increased their price objective on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Three equities research 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.com, the stock has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Stock Down 12.5%

The business’s fifty day moving average price is GBX 697.98 and its two-hundred day moving average price is GBX 744.35. 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 stock has a market capitalization 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.

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.