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

Rightmove plc (LON:RMV) shares fell 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 were traded during mid-day 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

RMV has been the topic of a number of recent analyst reports. 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. 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. JPMorgan Chase & Co. reaffirmed 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 target on shares of Rightmove in a report on Friday. Finally, 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. Four 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 796.40.

Rightmove Stock Down 12.5%

The firm has a market capitalization of £4.40 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.58 and a beta of 1.05. The firm’s 50-day moving average is GBX 697.98 and its 200 day moving average is GBX 744.35. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83.

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.