Rightmove (LON:RMV) Reaches New 1-Year Low – Here’s Why

Rightmove plc (LON:RMV)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as GBX 423.90 and last traded at GBX 424.30, with a volume of 3407958 shares traded. The stock had previously closed at GBX 432.90.

Wall Street Analysts Forecast Growth

RMV has been the topic of several recent analyst reports. Berenberg Bank dropped their price target on Rightmove from GBX 850 to GBX 785 and set a “buy” rating on the stock in a research note on Monday, November 10th. Peel Hunt restated a “buy” rating and set a GBX 885 price target on shares of Rightmove in a research note on Friday, November 7th. Jefferies Financial Group dropped their target price on Rightmove from GBX 485 to GBX 465 and set an “underperform” rating on the stock in a research report on Tuesday, November 25th. JPMorgan Chase & Co. upped their target price on shares of Rightmove from GBX 500 to GBX 527 and gave the stock an “underweight” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada raised Rightmove to an “outperform” rating and dropped their price objective for the company from GBX 805 to GBX 775 in a research note on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 708.67.

Rightmove Stock Performance

The stock has a market cap of £3.22 billion, a PE ratio of 16.32, a P/E/G ratio of 2.58 and a beta of 1.05. The company has a fifty day moving average price of GBX 491.76 and a 200 day moving average price of GBX 607.22. The company has a quick ratio of 2.55, a current ratio of 1.83 and a debt-to-equity ratio of 10.15.

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.