Remitly Global, Inc. (NASDAQ:RELY – Get Free Report) Director Nigel Morris sold 20,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $26.26, for a total value of $525,200.00. Following the sale, the director owned 1,831,056 shares in the company, valued at approximately $48,083,530.56. The trade was a 1.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Remitly Global Stock Performance
Shares of RELY stock opened at $26.67 on Friday. The stock’s 50-day simple moving average is $23.42 and its 200-day simple moving average is $19.87. The firm has a market capitalization of $5.65 billion, a PE ratio of 19.19 and a beta of 0.34. Remitly Global, Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $27.15.
Remitly Global (NASDAQ:RELY – Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.81. The firm had revenue of $495.16 million during the quarter, compared to the consensus estimate of $486.25 million. Remitly Global had a return on equity of 33.33% and a net margin of 16.85%.The company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. Sell-side analysts forecast that Remitly Global, Inc. will post 0.85 earnings per share for the current year.
Institutional Investors Weigh In On Remitly Global
Analyst Upgrades and Downgrades
RELY has been the topic of a number of research reports. Citizens Jmp increased their price objective on shares of Remitly Global from $30.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. KeyCorp boosted their target price on shares of Remitly Global from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Remitly Global from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Citigroup reaffirmed an “outperform” rating on shares of Remitly Global in a report on Thursday, August 6th. Finally, Monness Crespi & Hardt reiterated a “buy” rating on shares of Remitly Global in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $27.67.
View Our Latest Stock Analysis on Remitly Global
Remitly Global Company Profile
Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.
Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.
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