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

Rightmove plc (LON:RMV) traded 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 changed hands during trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 815 target price on shares of Rightmove in a research report on Monday, July 28th. Royal Bank Of Canada upped their price target on Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a research note on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Finally, Berenberg Bank increased their target price 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. Three investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 796.40.

Rightmove Trading Down 12.5%

The firm has a fifty day moving average of GBX 697.98 and a 200-day moving average of 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. The stock 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.

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.