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

Rightmove plc (LON:RMV) shares were down 12.5% during trading on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares were traded 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 Upgrades and Downgrades

RMV has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a report on Monday, July 28th. Royal Bank Of Canada upped their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research note on Monday, July 28th. Berenberg Bank raised their price target on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a research note on Friday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 796.40.

Rightmove Price Performance

The firm has a 50-day simple moving average of GBX 697.98 and a 200-day simple moving average of GBX 744.37. The firm has a market capitalization of £4.40 billion, a PE ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55.

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.