A share price of Remitly Global Inc [RELY] is currently trading at $13.53, up 3.44%. An important factor to consider is whether the stock is rising or falling in short-term value. The RELY shares have gain 6.70% over the last week, with a monthly amount glided 3.36%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Remitly Global Inc [NASDAQ: RELY] stock has seen the most recent analyst activity on February 22, 2024, when BMO Capital Markets upgraded its rating to a Outperform and also boosted its price target to $28 from $24. Previously, Wells Fargo started tracking the stock with Underweight rating on January 17, 2024, and set its price target to $16. On December 05, 2023, BMO Capital Markets initiated with a Market Perform rating and assigned a price target of $25 on the stock. Wolfe Research downgraded its rating to a Peer Perform. Wolfe Research upgraded its rating to a Outperform but $28 remained the price target by the analyst firm on August 04, 2023. Wolfe Research downgraded its rating to Peer Perform for this stock on March 27, 2023.
Remitly Global Inc experienced fluctuations in its stock price throughout the past year between $11.60 and $27.95. Currently, Wall Street analysts expect the stock to reach $23 within the next 12 months. Remitly Global Inc [NASDAQ: RELY] shares were valued at $13.53 at the most recent close of the market. An investor can expect a potential return of 69.99% based on the average RELY price forecast.
Analyzing the RELY fundamentals
Trailing Twelve Months sales for Remitly Global Inc [NASDAQ:RELY] were 1.01B which represents 32.01% growth. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at -0.11%, Pretax Profit Margin comes in at -0.1%, and Net Profit Margin reading is -0.11%. To continue investigating profitability, this company’s Return on Assets is posted at -0.1, Equity is -0.21 and Total Capital is -0.15. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.29.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 13.18 points at the first support level, and at 12.83 for the second support level. However, for the 1st resistance point, the stock is sitting at 13.72, and for the 2nd resistance point, it is at 13.91.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 2.58, the price to book ratio is 4.74.
Transactions by insiders
Recent insider trading involved Hug Joshua, Vice Chair, that happened on May 29 ’24 when 26239.0 shares were sold. EVP, Customer and Culture, Yoakum Rene completed a deal on May 15 ’24 to sell 15000.0 shares. Meanwhile, Chief Executive Officer Oppenheimer Matthew B. sold 10416.0 shares on May 14 ’24.
