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

Rightmove plc (LON:RMV) dropped 12.5% during trading on Saturday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares were traded 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 brokerages have recently commented on RMV. Berenberg Bank upped their target price on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a report on Tuesday, July 29th. 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Peel Hunt reiterated a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of GBX 796.40.

Rightmove Price Performance

The company’s 50 day moving average is GBX 697.98 and its 200 day moving average is GBX 744.37. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The stock has a market cap of £4.40 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.58 and a beta of 1.05.

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.