Remitly Global Inc [RELY] is 64.19% higher this YTD. Is it still time to buy?

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Remitly Global Inc [NASDAQ: RELY] traded at a low on 11/02/23, posting a -31.86 loss after which it closed the day’ session at $18.80. The company report on November 1, 2023 at 4:05 PM that Remitly Reports Third Quarter 2023 Results.

Active customers up 42% year over yearSend volume up 36% year over yearRevenue up 43% year over year.

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The results of the trading session contributed to over 10215142 shares changing hands. Over the past one week, the price volatility of Remitly Global Inc stands at 6.38% while the volatility over the past one month is 4.74%.

The market cap for RELY stock reached $3.41 billion, with 173.25 million shares outstanding and 127.72 million shares in the current float. Compared to the average trading volume of 1.61M shares, RELY reached a trading volume of 10215142 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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What do top market gurus say about Remitly Global Inc [RELY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RELY shares is $31.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RELY stock is a recommendation set at 1.12. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Remitly Global Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 04, 2023.

The Average True Range (ATR) for Remitly Global Inc is set at 1.59, with the Price to Sales ratio for RELY stock in the period of the last 12 months amounting to 3.91. The Price to Book ratio for the last quarter was 6.62, with the Price to Cash per share for the same quarter was set at 1.24.

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How has RELY stock performed recently?

Remitly Global Inc [RELY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.62. With this latest performance, RELY shares dropped by -24.38% in over the last four-week period, additionally plugging by 2.84% over the last 6 months – not to mention a rise of 60.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RELY stock in for the last two-week period is set at 25.68, with the RSI for the last a single of trading hit 20.41, and the three-weeks RSI is set at 30.40 for Remitly Global Inc [RELY]. The present Moving Average for the last 50 days of trading for this stock 25.50, while it was recorded at 25.05 for the last single week of trading, and 19.42 for the last 200 days.

Remitly Global Inc [RELY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Remitly Global Inc [RELY] shares currently have an operating margin of -17.94 and a Gross Margin at +48.83. Remitly Global Inc’s Net Margin is presently recorded at -17.45.

Return on Total Capital for RELY is now -24.03, given the latest momentum, and Return on Invested Capital for the company is -23.53. Return on Equity for this stock declined to -23.74, with Return on Assets sitting at -17.25. When it comes to the capital structure of this company, Remitly Global Inc [RELY] has a Total Debt to Total Equity ratio set at 1.92. Additionally, RELY Total Debt to Total Capital is recorded at 1.88, with Total Debt to Total Assets ending up at 1.32. Long-Term Debt to Equity for the company is recorded at 1.18, with the Long-Term Debt to Total Capital now at 1.16.

Reflecting on the efficiency of the workforce at the company, Remitly Global Inc [RELY] managed to generate an average of -$42,229 per employee. Receivables Turnover for the company is 5.05 with a Total Asset Turnover recorded at a value of 0.99.

Insider trade positions for Remitly Global Inc [RELY]

The top three institutional holders of RELY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in RELY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in RELY stock with ownership which is approximately 5.7994%.

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