In yesterday’s Wall Street session, Remitly Global Inc. (NASDAQ:RELY) shares traded at $10.91, up 9.10% from the previous session.
As of this writing, 8 analysts cover Remitly Global Inc. (NASDAQ:RELY). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $19.00 and a low of $12.00, we find $14.00. Given the previous closing price of $10.00, this indicates a potential upside of 40.0 percent. RELY stock price is now 6.20% away from the 50-day moving average and 7.09% away from the 200-day moving average. The market capitalization of the company currently stands at $1.86B.
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There are 0 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $15.29 as their price target over the next twelve months.
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In other news, Yoakum Rene, EVP, Customer and Culture sold 5,427 shares of the company’s stock on Nov 29. The stock was sold for $53,955 at an average price of $9.94. Upon completion of the transaction, the EVP, Customer and Culture now directly owns 286 shares in the company, valued at $3120.26. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 28, Chief Operating Officer Hug Joshua sold 7,728 shares of the business’s stock. A total of $79,625 was realized by selling the stock at an average price of $10.30. This leaves the insider owning 4,173,631 shares of the company worth $45.53 million. Insiders disposed of 9,326,189 shares of company stock worth roughly $101.75 million over the past 1 year. A total of 2.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RELY stock. A new stake in Remitly Global Inc. shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $12,481,000. INTRINSIC EDGE CAPITAL MANAGEMENT LLC invested $9,082,000 in shares of RELY during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in Remitly Global Inc. valued at approximately $8,166,000. LORD, ABBETT & CO. LLC acquired a new stake in RELY for approximately $7,349,000. SORA INVESTORS LLC purchased a new stake in RELY valued at around $6,219,000 in the second quarter. In total, there are 167 active investors with 71.80% ownership of the company’s stock.
Thursday morning saw Remitly Global Inc. (NASDAQ: RELY) opened at $10.09. During the past 12 months, Remitly Global Inc. has had a low of $6.66 and a high of $21.26. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.10, and a quick ratio of 3.10. The fifty day moving average price for RELY is $10.27 and a two-hundred day moving average price translates $10.19 for the stock.
The latest earnings results from Remitly Global Inc. (NASDAQ: RELY) was released for Jun, 2022. According to the Software – Infrastructure Company, earnings per share came in at -$0.23, missing analysts’ expectations of -$0.13 by -0.1. This compares to -$0.41 EPS in the same period last year. The net profit margin was -18.60% and return on equity was -23.60% for RELY. The company reported revenue of $169.26 million for the quarter, compared to $121.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 39.6 percent. For the current quarter, analysts expect RELY to generate $162.86M in revenue.
Remitly Global Inc.(RELY) Company Profile
Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.
