Rightmove (LON:RMV) Trading Down 12.5% – What’s Next?

Rightmove plc (LON:RMV)’s share price dropped 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 traded 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMV. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Berenberg Bank raised 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 815 price target on shares of Rightmove in a report on Monday, July 28th. Peel Hunt reiterated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research note on Friday. Finally, Royal Bank Of Canada lifted 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. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 796.40.

Rightmove Trading Down 12.5%

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 business has a fifty day moving average of GBX 697.98 and a 200-day moving average of GBX 744.35. The stock 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.