The stock of Remitly Global Inc (NASDAQ: RELY) has increased by 3.84 when compared to last closing price of 21.72. Despite this, the company has experienced a 3.84% gain in its stock price over the last five trading sessions. globenewswire.com reported 2024-12-13 that NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) — Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the fourth quarter of 2024.
Is It Worth Investing in Remitly Global Inc (NASDAQ: RELY) Right Now?
The 36-month beta value for RELY is at 0.10. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 5 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for RELY is 146.56M, and currently, shorts hold a 5.57% of that float. The average trading volume for RELY on December 18, 2024 was 1.88M shares.
RELY’s Market Performance
RELY’s stock has seen a 3.84% increase for the week, with a 14.14% rise in the past month and a 58.28% gain in the past quarter. The volatility ratio for the week is 3.65%, and the volatility levels for the past 30 days are at 2.94% for Remitly Global Inc The simple moving average for the last 20 days is 7.17% for RELY stock, with a simple moving average of 41.14% for the last 200 days.
Analysts’ Opinion of RELY
Many brokerage firms have already submitted their reports for RELY stocks, with Wells Fargo repeating the rating for RELY by listing it as a “Equal Weight.” The predicted price for RELY in the upcoming period, according to Wells Fargo is $18 based on the research report published on October 31, 2024 of the current year 2024.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see RELY reach a price target of $28, previously predicting the price at $24. The rating they have provided for RELY stocks is “Outperform” according to the report published on February 22nd, 2024.
Wells Fargo gave a rating of “Underweight” to RELY, setting the target price at $16 in the report published on January 17th of the current year.
RELY Trading at 22.52% 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 able to rebound, for now settling with 2.15% of gains for the given period.
Volatility was left at 2.94%, however, over the last 30 days, the volatility rate increased by 3.65%, as shares surge +13.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +75.95% upper at present.
During the last 5 trading sessions, RELY rose by +4.26%, which changed the moving average for the period of 200-days by +10.57% in comparison to the 20-day moving average, which settled at $21.05. In addition, Remitly Global Inc saw 16.14% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RELY starting from Yoakum Rene, who sale 15,000 shares at the price of $21.44 back on Dec 16 ’24. After this action, Yoakum Rene now owns 143,213 shares of Remitly Global Inc, valued at $321,615 using the latest closing price.
Oppenheimer Matthew B., the Chief Executive Officer of Remitly Global Inc, sale 14,583 shares at $21.61 during a trade that took place back on Dec 11 ’24, which means that Oppenheimer Matthew B. is holding 4,402,428 shares at $315,139 based on the most recent closing price.
Stock Fundamentals for RELY
Current profitability levels for the company are sitting at:
- -0.06 for the present operating margin
- 0.62 for the gross margin
The net margin for Remitly Global Inc stands at -0.06. The total capital return value is set at -0.1. Equity return is now at value -11.46, with -7.35 for asset returns.
Based on Remitly Global Inc (RELY), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at 13.19. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -21.68.
Currently, EBITDA for the company is -96.47 million with net debt to EBITDA at 7.33. When we switch over and look at the enterprise to sales, we see a ratio of 3.52. The receivables turnover for the company is 4.01for trailing twelve months and the total asset turnover is 1.21.
Conclusion
In conclusion, Remitly Global Inc (RELY) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
