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

Rightmove plc (LON:RMV)’s stock 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 traded 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 Upgrades and Downgrades

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

Rightmove Stock Down 12.5%

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 firm has a 50 day moving average price of GBX 697.98 and a 200-day moving average price of GBX 744.35. The firm has a market cap of £4.40 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05.

About Rightmove

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.