Rightmove (LON:RMV) Trading Down 12.5% – Should You Sell?

Rightmove plc (LON:RMV) shares 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 changed hands during 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 several research reports. Berenberg Bank raised their target price on shares of Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 815 price objective on shares of Rightmove 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. Peel Hunt reaffirmed a “buy” rating and set a GBX 885 price target on shares of Rightmove in a report on Friday. Finally, Royal Bank Of Canada lifted their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research note on Monday, July 28th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Trading Down 12.5%

The company’s 50 day simple moving average is GBX 697.98 and its two-hundred day simple moving average is GBX 744.37. The company has a market capitalization of £4.40 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15.

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.