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

Rightmove plc (LON:RMV) dropped 12.5% during trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. Approximately 24,167,318 shares traded hands during trading, an increase of 367% from the average daily volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Wall Street Analysts Forecast Growth

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

Rightmove Stock Down 1.2%

The stock has a market capitalization of £4.35 billion, a P/E ratio of 21.80, a PEG ratio of 2.58 and a beta of 1.05. The stock has a 50 day moving average price of GBX 697.98 and a 200-day moving average price of GBX 744.39. The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55.

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.