Rightmove (LON:RMV) Shares Down 12.5% – Time to Sell?

Rightmove plc (LON:RMV)’s stock price dropped 12.5% during mid-day 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 mid-day 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

Several research analysts have recently commented on RMV shares. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Royal Bank Of Canada boosted their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Berenberg Bank increased their price target on shares of Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 815 price objective on shares of Rightmove in a research report on Monday, July 28th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rightmove has a consensus rating of “Hold” and an average target price of GBX 796.40.

Rightmove Stock Down 12.5%

The company’s 50-day moving average is GBX 697.98 and its 200 day moving average is GBX 744.35. The stock has a market capitalization of £4.40 billion, a PE 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.

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.