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

Shares of Rightmove plc (LON:RMV) fell 12.5% during mid-day trading on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares traded 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMV. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 815 price objective on shares of Rightmove in a report on Monday, July 28th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Royal Bank Of Canada upped their price objective on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Berenberg Bank increased their price objective on Rightmove from GBX 795 to GBX 850 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a research report on Friday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rightmove presently has a consensus rating of “Moderate Buy” and an average price target of GBX 796.40.

Rightmove Stock Performance

The stock has a market cap of £4.40 billion, a P/E ratio of 22.07, a price-to-earnings-growth 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 stock has a 50 day simple moving average of GBX 701.37 and a 200 day simple moving average of GBX 745.52.

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.