Rightmove (LON:RMV) Shares Down 12.5% – Should You Sell?

Rightmove plc (LON:RMV) shares were down 12.5% during trading on Saturday . The company 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RMV. JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a research note on Friday, October 10th. Royal Bank Of Canada raised their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 815 price target on shares of Rightmove in a research report on Monday, July 28th. Peel Hunt reiterated a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a report on Friday. Finally, Berenberg Bank raised their price objective on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Three 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, Rightmove has an average rating of “Hold” and an average price target 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.

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.