Remitly Global Inc [NASDAQ: RELY] surged by $3.18 during the normal trading session on while it closed the day at $20.87. The company report on February 22, 2024 at 4:05 PM that Remitly Announces Upcoming Investor Conference Participation.
Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a trusted provider of digital financial services that transcend borders, today announced that its management team will present at the following investor conferences:.
Citi’s 13th Annual FinTech ConferenceDate: Tuesday, February 27, 2024Time: 10:15 a.m. Eastern Time / 7:15 a.m. Pacific Time.
Remitly Global Inc stock has also gained 15.50% of its value over the past 7 days. However, RELY stock has declined by -3.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -16.18% and gained 7.47% year-on date.
The market cap for RELY stock reached $3.86 billion, with 173.25 million shares outstanding and 131.80 million shares in the current float. Compared to the average trading volume of 1.46M shares, RELY reached a trading volume of 5908514 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $27.75 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 1.60. 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.
BMO Capital Markets have made an estimate for Remitly Global Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on Feb-23-24. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Underweight. The new note on the price target was released on January 17, 2024, representing the official price target for Remitly Global Inc stock. Previously, the target price had yet another raise to $25, while BMO Capital Markets analysts kept a Market Perform rating on RELY stock.
The Average True Range (ATR) for Remitly Global Inc is set at 0.86, with the Price to Sales ratio for RELY stock in the period of the last 12 months amounting to 4.09. The Price to Book ratio for the last quarter was 7.35, with the Price to Cash per share for the same quarter was set at 1.75.
RELY stock trade performance evaluation
Remitly Global Inc [RELY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.50. With this latest performance, RELY shares gained by 29.15% in over the last four-week period, additionally sinking by -16.18% over the last 6 months – not to mention a rise of 80.54% 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 70.44, with the RSI for the last a single of trading hit 76.60, and the three-weeks RSI is set at 64.31 for Remitly Global Inc [RELY]. The present Moving Average for the last 50 days of trading for this stock 18.12, while it was recorded at 18.68 for the last single week of trading, and 20.92 for the last 200 days.
Earnings per share (EPS) analysis for Remitly Global Inc [RELY] stock
With the latest financial reports released by the company, Remitly Global Inc posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RELY.
Remitly Global Inc [RELY]: Institutional Ownership
The top three institutional holders of RELY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RELY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RELY stock with ownership which is approximately 5.8325%.
