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

Rightmove plc (LON:RMV)’s share price traded down 12.5% on Friday . The company traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares were traded 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.

Analyst Ratings Changes

RMV has been the subject of several recent research reports. Peel Hunt reiterated a “buy” rating and issued a GBX 885 price target on shares of Rightmove in a report on Friday. 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 815 target price on shares of Rightmove in a report on Monday, July 28th. Royal Bank Of Canada lifted their target price on Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Four 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, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 796.40.

Rightmove Price Performance

The company has a market capitalization of £4.40 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.58 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The business’s 50-day simple moving average is GBX 701.37 and its 200 day simple moving average is GBX 745.52.

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.