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

Rightmove plc (LON:RMV)’s share price traded down 12.5% during trading on Saturday . 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 Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their target price on Rightmove from GBX 750 to GBX 805 and gave the company a “sector perform” rating in a report on Monday, July 28th. Peel Hunt reissued a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a research note on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 815 target price on shares of Rightmove in a research report on Monday, July 28th. Finally, Berenberg Bank lifted 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. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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 P/E/G ratio of 2.58 and a beta of 1.05. The firm has a 50 day moving average of GBX 697.98 and a two-hundred day moving average of GBX 744.35. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83.

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.