Rightmove (LON:RMV) Shares Down 12.5% – What’s Next?

Rightmove plc (LON:RMV)’s share price dropped 12.5% during mid-day 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 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

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

Rightmove Price Performance

The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. The stock has a market cap of £4.40 billion, a PE ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. The stock’s 50-day moving average is GBX 697.98 and its two-hundred day moving average is GBX 744.35.

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.