Remitly Global, Inc. (NASDAQ:RELY – Get Free Report) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $23.13.
Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday. Barclays boosted their price target on shares of Remitly Global from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, November 18th. KeyCorp raised their price objective on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, JMP Securities lifted their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st.
Get Our Latest Report on Remitly Global
Insider Buying and Selling at Remitly Global
Institutional Trading of Remitly Global
A number of institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Remitly Global by 58.7% in the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,466 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Remitly Global during the 3rd quarter valued at about $76,000. FMR LLC raised its stake in shares of Remitly Global by 39.8% in the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,970 shares in the last quarter. Green Alpha Advisors LLC acquired a new stake in Remitly Global in the 3rd quarter worth approximately $144,000. Finally, Point72 Hong Kong Ltd bought a new stake in Remitly Global during the third quarter worth approximately $151,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.
Remitly Global Stock Performance
Remitly Global stock opened at $23.26 on Tuesday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -66.46 and a beta of 0.07. Remitly Global has a 1 year low of $11.60 and a 1 year high of $23.51. The firm’s 50 day moving average price is $21.60 and its two-hundred day moving average price is $16.71.
Remitly Global (NASDAQ:RELY – Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Remitly Global had a negative return on equity of 11.58% and a negative net margin of 5.63%. The business had revenue of $336.53 million for the quarter, compared to analysts’ expectations of $320.71 million. During the same period in the previous year, the firm posted ($0.20) EPS. The company’s quarterly revenue was up 39.3% on a year-over-year basis. As a group, equities analysts predict that Remitly Global will post -0.23 EPS for the current fiscal year.
About Remitly Global
Remitly Global, Inc provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 170 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.
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