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

Rightmove plc (LON:RMV)’s share price fell 12.5% during mid-day trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares traded hands 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.

Analyst Ratings Changes

Several equities research analysts recently commented on RMV shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 target price on shares of Rightmove in a report on Monday, July 28th. Royal Bank Of Canada upped 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Berenberg Bank boosted their price target on shares of Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Peel Hunt restated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research report on Friday. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 796.40.

Rightmove Stock Performance

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 firm has a market capitalization of £4.40 billion, a PE ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. The firm has a fifty day moving average price of GBX 697.98 and a 200 day moving average price of GBX 744.37.

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.