Rightmove (LON:RMV) Shares Down 12.5% – Here’s What Happened

Shares of Rightmove plc (LON:RMV) traded down 12.5% during trading on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares traded 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 research firms have weighed in on RMV. Berenberg Bank raised their price objective on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Peel Hunt reiterated a “buy” rating and set a GBX 885 price target on shares of Rightmove in a report on Friday. Royal Bank Of Canada boosted their price objective on shares of Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Four 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 796.40.

Rightmove Trading Down 12.5%

The firm has a market capitalization of £4.40 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. 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 stock has a 50 day simple moving average of GBX 701.37 and a 200-day simple moving average of GBX 745.52.

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.