Rightmove (LON:RMV) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Rightmove plc (LON:RMV) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 610.68 ($7.47) and traded as high as GBX 633.40 ($7.75). Rightmove shares last traded at GBX 627 ($7.67), with a volume of 7,119,830 shares traded.

Analysts Set New Price Targets

A number of analysts recently commented on RMV shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Rightmove in a research report on Thursday, December 5th. Shore Capital reissued a “buy” rating on shares of Rightmove in a research note on Friday, November 8th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 775 ($9.49) target price on shares of Rightmove in a research report on Friday, November 8th.

Rightmove Price Performance

The company has a debt-to-equity ratio of 10.15, a current ratio of 1.83 and a quick ratio of 2.55. The business’s fifty day moving average price is GBX 640.35 and its 200-day moving average price is GBX 610.68. The stock has a market capitalization of £5.01 billion, a price-to-earnings ratio of 2,551.20, a PEG 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.