Rightmove (LON:RMV) Shares Down 12.5% – Time to Sell?

Rightmove plc (LON:RMV)’s share price was down 12.5% during mid-day trading on Friday . The stock 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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMV. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Royal Bank Of Canada raised their price objective on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research report on Monday, July 28th. Berenberg Bank upped their target price on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Peel Hunt reissued a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research report on Friday. Finally, 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. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Rightmove has an average rating of “Moderate Buy” and an average price target of GBX 796.40.

Rightmove Stock Performance

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 company’s fifty day simple moving average is GBX 697.98 and its two-hundred day simple moving average is GBX 744.35. The company has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth 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.