Rightmove (LON:RMV) Reaches New 12-Month Low – Time to Sell?

Rightmove plc (LON:RMV) hit a new 52-week low on Tuesday . The company traded as low as GBX 473.70 and last traded at GBX 475.30, with a volume of 16224094 shares changing hands. The stock had previously closed at GBX 495.30.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Berenberg Bank dropped their target price on shares of Rightmove from GBX 850 to GBX 785 and set a “buy” rating on the stock in a research report on Monday, November 10th. Royal Bank Of Canada upgraded Rightmove to an “outperform” rating and reduced their price target for the company from GBX 805 to GBX 775 in a research report on Monday, November 10th. Jefferies Financial Group lowered their target price on shares of Rightmove from GBX 485 to GBX 465 and set an “underperform” rating on the stock in a research note on Tuesday, November 25th. Peel Hunt reissued a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Rightmove from GBX 500 to GBX 527 and gave the company an “underweight” rating in a research note on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of GBX 708.67.

Rightmove Stock Down 2.8%

The company has a market capitalization of £3.66 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.58 and a beta of 1.05. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83. The business has a 50-day simple moving average of GBX 518.65 and a two-hundred day simple moving average of GBX 642.78.

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.