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

Rightmove plc (LON:RMV) fell 12.5% on Saturday . 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RMV shares. Berenberg Bank lifted 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. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Rightmove in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 815 target price on shares of Rightmove in a research note on Monday, July 28th. Peel Hunt reissued a “buy” rating and issued a GBX 885 target price on shares of Rightmove in a report on Friday. Finally, 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. 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 796.40.

Rightmove Price Performance

The company 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 quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15. The company has a market cap of £4.35 billion, a price-to-earnings ratio of 21.80, 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.