Rightmove (LON:RMV) Stock Price Down 12.5% – Here’s Why

Rightmove plc (LON:RMV) shares fell 12.5% during mid-day trading on Saturday . The stock 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.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RMV shares. Peel Hunt reissued a “buy” rating and set a GBX 885 target price on shares of Rightmove in a research report on Friday. 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 report on Monday, July 28th. Berenberg Bank boosted their price objective on shares of 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 reaffirmed a “buy” rating and issued a GBX 815 target price on shares of Rightmove in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Three equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Trading Down 12.5%

The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The business’s fifty day simple moving average is GBX 697.98 and its two-hundred day simple moving average is GBX 744.35. The company has a market cap of £4.40 billion, a price-to-earnings ratio of 22.07, a PEG 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.