RELY has 36-month beta value of 0.10. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 1 as “sell.”
The public float for RELY is 143.94M, and currently, short sellers hold a 7.78% ratio of that float. The average trading volume of RELY on August 29, 2024 was 1.97M shares.
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RELY) stock’s latest price update
Remitly Global Inc (NASDAQ: RELY) has experienced a decline in its stock price by -0.45 compared to its previous closing price of 13.47. However, the company has seen a fall of -5.76% in its stock price over the last five trading days. zacks.com reported 2024-08-21 that The average of price targets set by Wall Street analysts indicates a potential upside of 54.4% in Remitly Global (RELY). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
RELY’s Market Performance
Remitly Global Inc (RELY) has seen a -5.76% fall in stock performance for the week, with a -0.96% decline in the past month and a 1.13% surge in the past quarter. The volatility ratio for the week is 3.15%, and the volatility levels for the past 30 days are at 3.76% for RELY. The simple moving average for the last 20 days is -2.27% for RELY’s stock, with a simple moving average of -21.02% for the last 200 days.
Analysts’ Opinion of RELY
Many brokerage firms have already submitted their reports for RELY stocks, with BMO Capital Markets repeating the rating for RELY by listing it as a “Outperform.” The predicted price for RELY in the upcoming period, according to BMO Capital Markets is $28 based on the research report published on February 22, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see RELY reach a price target of $16. The rating they have provided for RELY stocks is “Underweight” according to the report published on January 17th, 2024.
BMO Capital Markets gave a rating of “Market Perform” to RELY, setting the target price at $25 in the report published on December 05th of the previous year.
RELY Trading at 1.92% from the 50-Day Moving Average
After a stumble in the market that brought RELY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.02% of loss for the given period.
Volatility was left at 3.76%, however, over the last 30 days, the volatility rate increased by 3.15%, as shares surge +1.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.92% upper at present.
During the last 5 trading sessions, RELY fell by -5.76%, which changed the moving average for the period of 200-days by -34.20% in comparison to the 20-day moving average, which settled at $13.73. In addition, Remitly Global Inc saw -30.95% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RELY starting from Oppenheimer Matthew B., who sale 52,080 shares at the price of $14.18 back on Aug 21 ’24. After this action, Oppenheimer Matthew B. now owns 4,584,277 shares of Remitly Global Inc, valued at $738,494 using the latest closing price.
Oppenheimer Matthew B., the Chief Executive Officer of Remitly Global Inc, sale 1,545 shares at $14.17 during a trade that took place back on Aug 22 ’24, which means that Oppenheimer Matthew B. is holding 4,582,732 shares at $21,893 based on the most recent closing price.
Stock Fundamentals for RELY
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.61 for the gross margin
The net margin for Remitly Global Inc stands at -0.1. The total capital return value is set at -0.17. Equity return is now at value -18.97, with -11.97 for asset returns.
Based on Remitly Global Inc (RELY), the company’s capital structure generated 0.04 points at debt to capital in total, while cash flow to debt ratio is standing at -0.42. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is 76.93.
Currently, EBITDA for the company is -96.47 million with net debt to EBITDA at 1.83. When we switch over and look at the enterprise to sales, we see a ratio of 2.27. The receivables turnover for the company is 2.26for trailing twelve months and the total asset turnover is 1.14.
Conclusion
To put it simply, Remitly Global Inc (RELY) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
