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

Shares of Rightmove plc (LON:RMV) 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

A number of research firms have recently commented on RMV. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a report on Monday, July 28th. Peel Hunt restated a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research note on Friday. Royal Bank Of Canada lifted 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. Berenberg Bank increased 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. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rightmove currently has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Stock Down 12.5%

The company has a fifty day moving average of GBX 697.98 and a 200 day moving average of GBX 744.35. The company has a market cap of £4.40 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15.

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.