Rightmove (LON:RMV) Share Price Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Technical breach: Rightmove shares fell below their 200‑day moving average (GBX 518.93), trading as low as GBX 450.30 and last at GBX 458.20 on heavy volume (155,409,016 shares).
• Analyst downgrades: Citigroup cut its target to GBX 455 (neutral) and JPMorgan to GBX 489 (underweight), while the consensus rating remains a Hold with a consensus price target of GBX 667.
• Insider buying amid strong margins: Two insiders purchased shares in March (Johan Svanström 4,328 at GBX 461; Ruaridh Hook 2,077 at GBX 457) even as the company reports high profitability (ROE 264.68%, net margin 51.06%).

Rightmove plc (LON:RMV - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 518.93 and traded as low as GBX 450.30. Rightmove shares last traded at GBX 458.20, with a volume of 155,409,016 shares.

Wall Street Analyst Weigh In

RMV has been the topic of a number of research reports. Citigroup lowered their target price on shares of Rightmove from GBX 520 to GBX 455 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their target price on shares of Rightmove from GBX 521 to GBX 489 and set an "underweight" rating on the stock in a research report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Rightmove has a consensus rating of "Hold" and a consensus price target of GBX 667.

Rightmove Trading Up 0.8%

The company has a quick ratio of 2.55, a current ratio of 1.89 and a debt-to-equity ratio of 13.13. The company has a fifty day moving average of GBX 436.50 and a two-hundred day moving average of GBX 518.93. The stock has a market capitalization of £3.45 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 2.58 and a beta of 0.92.

Rightmove (LON:RMV - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported GBX 29.10 earnings per share for the quarter. Rightmove had a return on equity of 264.68% and a net margin of 51.06%. On average, research analysts expect that Rightmove plc will post 30.2327791 EPS for the current year.

Insider Buying and Selling at Rightmove

In related news, insider Johan Svanström purchased 4,328 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of GBX 461 per share, with a total value of £19,952.08. Also, insider Ruaridh Hook purchased 2,077 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of GBX 457 per share, with a total value of £9,491.89. 0.37% of the stock is owned by company insiders.

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.

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