Rightmove (LON:RMV) Shares Down 12.5% – Here’s What Happened

Rightmove plc (LON:RMV)’s share price fell 12.5% during mid-day trading on Friday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares changed 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.

Analysts Set New Price Targets

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

Rightmove Stock Down 12.5%

The company has a market cap 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 fifty day moving average of GBX 697.98 and a two-hundred day moving average of GBX 744.37. 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.