Rightmove (LON:RMV) Hits New 12-Month Low – Here’s Why

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

Analyst Ratings Changes

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

Rightmove Price Performance

The business has a 50-day moving average price of GBX 501.87 and a 200 day moving average price of GBX 620.85. The company has a current ratio of 1.83, a quick ratio of 2.55 and a debt-to-equity ratio of 10.15. The company has a market cap of £3.25 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.58 and a beta of 1.05.

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. 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.