Remitly Global Inc [NASDAQ: RELY] traded at a high on Tuesday, posting a 1.99 gain after which it closed the day’ session at $20.48.
The results of the trading session contributed to over 5240755 shares changing hands. Over the past one week, the price volatility of Remitly Global Inc stands at 5.36% while the volatility over the past one month is 4.58%.
The market cap for RELY stock reached $4.11 billion, with 200.53 million shares outstanding and 147.19 million shares in the current float. Compared to the average trading volume of 1.95M shares, RELY reached a trading volume of 5240755 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $29.50 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 1.75. 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.
Wells Fargo have made an estimate for Remitly Global Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 31, 2024. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $24 to $28. The new note on the price target was released on February 22, 2024, representing the official price target for Remitly Global Inc stock. Previously, the target price had yet another raise to $16, while Wells Fargo analysts kept a Underweight rating on RELY stock.
The Average True Range (ATR) for Remitly Global Inc is set at 1.04, with the Price to Sales ratio for RELY stock in the period of the last 12 months amounting to 3.25. The Price to Book ratio for the last quarter was 6.17, with the Price to Cash per share for the same quarter was set at 1.84. Price to Free Cash Flow for RELY in the course of the last twelve months was 23.24.
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 -10.96. With this latest performance, RELY shares dropped by -19.37% in over the last four-week period, additionally plugging by 52.38% over the last 6 months – not to mention a drop of -1.06% 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 30.68, with the RSI for the last a single of trading hit 24.87, and the three-weeks RSI is set at 35.80 for Remitly Global Inc [RELY]. The present Moving Average for the last 50 days of trading for this stock 23.62, while it was recorded at 21.09 for the last single week of trading, and 17.34 for the last 200 days.
Earnings analysis for Remitly Global Inc [RELY]
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Remitly Global Inc go to 35.58%.
Insider trade positions for Remitly Global Inc [RELY]
The top three institutional holders of RELY stocks are: NASPERS LTD with ownership of 37.34 million shares, which is approximately 19.3028%. VANGUARD GROUP INC, holding 14.07 million shares of the stock with an approximate value of $$170.58 million in RELY stocks shares; and VANGUARD GROUP INC, currently with $$130.53 million in RELY stock with ownership which is approximately 5.673%.
