At the time of writing, Remitly Global Inc [RELY] stock is trading at $13.56, up 2.65%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The RELY shares have gain 4.39% over the last week, with a monthly amount drifted -6.80%, and not 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.
For the past year, the stock price of Remitly Global Inc fluctuated 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 $13.56 at the most recent close of the market. An investor can expect a potential return of 69.62% based on the average RELY price forecast.
Analyzing the RELY fundamentals
According to Remitly Global Inc [NASDAQ:RELY], the company’s sales were 1.08B for trailing twelve months, which represents an 30.93% jump. Gross Profit Margin for this corporation currently stands at 0.61% with Operating Profit Margin at -0.1%, Pretax Profit Margin comes in at -0.09%, and Net Profit Margin reading is -0.1%. To continue investigating profitability, this company’s Return on Assets is posted at -0.11, Equity is -0.19 and Total Capital is -0.17. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.04.
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 13.20 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 13.89, and for the 2nd resistance point, it is at 14.21.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 2.45, the price to book ratio is 4.57.
Transactions by insiders
Recent insider trading involved Hug Joshua, Vice Chair, that happened on Aug 29 ’24 when 22018.0 shares were sold. Officer, JOSHUA DAVID HUG completed a deal on Aug 29 ’24 to buy 22018.0 shares. Meanwhile, Chief Executive Officer Oppenheimer Matthew B. sold 52080.0 shares on Aug 21 ’24.
