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

Shares of Rightmove plc (LON:RMV) 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. 24,163,148 shares changed hands during trading, an increase of 367% from the average daily volume of 5,171,846 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 reaffirmed a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a research note on Monday, July 28th. Berenberg Bank boosted their target price on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Royal Bank Of Canada boosted their price objective on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research report on Monday, July 28th. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 796.40.

Rightmove Price Performance

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 firm has a fifty day simple moving average of GBX 701.37 and a two-hundred day simple moving average of GBX 745.52. The firm has a market cap of £4.40 billion, a PE ratio of 22.07, a PEG 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.