Rightmove (LON:RMV) Hits New 1-Year Low – Time to Sell?

Rightmove plc (LON:RMV)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as GBX 427.30 and last traded at GBX 427.48, with a volume of 17043516 shares traded. The stock had previously closed at GBX 437.80.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank Of Canada raised Rightmove to an “outperform” rating and dropped their price objective for the stock from GBX 805 to GBX 775 in a report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on Rightmove from GBX 500 to GBX 527 and gave the stock an “underweight” rating in a research note on Wednesday, December 3rd. Jefferies Financial Group cut their price target on Rightmove from GBX 485 to GBX 465 and set an “underperform” rating on the stock in a research report on Tuesday, November 25th. Peel Hunt reissued a “buy” rating and issued a GBX 885 price objective on shares of Rightmove in a report on Friday, November 7th. Finally, Berenberg Bank lowered their target price on shares of Rightmove from GBX 850 to GBX 785 and set a “buy” rating on the stock in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 708.67.

Rightmove Stock Down 2.4%

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 stock has a market capitalization of £3.25 billion, a PE ratio of 16.44, a PEG ratio of 2.58 and a beta of 1.05. The firm’s fifty day moving average is GBX 501.87 and its 200-day moving average is GBX 620.85.

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.