After finishing at $20.25 in the prior trading day, Remitly Global Inc (NASDAQ: RELY) closed at $19.52, down -3.60%. In other words, the price has decreased by -$0.73 from its previous closing price. On the day, 2249226 shares were traded. RELY stock price reached its highest trading level at $20.27 during the session, while it also had its lowest trading level at $19.00.
Ratios:
Our goal is to gain a better understanding of RELY by taking a closer look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 0.27 whereas as Long-Term Debt/Eq ratio is at 0.25.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BMO Capital Markets on February 22, 2024, Upgraded its rating to Outperform and sets its target price to $28 from $24 previously.
On January 17, 2024, Wells Fargo started tracking the stock assigning a Underweight rating and target price of $16.
On December 05, 2023, BMO Capital Markets started tracking the stock assigning a Market Perform rating and target price of $25.BMO Capital Markets initiated its Market Perform rating on December 05, 2023, with a $25 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Apr 10 ’24 when Hug Joshua sold 20,000 shares for $20.30 per share. The transaction valued at 406,042 led to the insider holds 3,873,631 shares of the business.
Hug Joshua sold 20,000 shares of RELY for $420,630 on Apr 09 ’24. The Chief Operating Officer now owns 3,893,631 shares after completing the transaction at $21.03 per share. On Apr 04 ’24, another insider, Hug Joshua, who serves as the Chief Operating Officer of the company, sold 20,000 shares for $20.69 each. As a result, the insider received 413,790 and left with 3,913,631 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RELY now has a Market Capitalization of 3.68B and an Enterprise Value of 3.50B. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.90 while its Price-to-Book (P/B) ratio in mrq is 6.95. Its current Enterprise Value per Revenue stands at 3.71 whereas that against EBITDA is -36.27.
Stock Price History:
Over the past 52 weeks, RELY has reached a high of $27.95, while it has fallen to a 52-week low of $15.83. The 50-Day Moving Average of the stock is 19.86, while the 200-Day Moving Average is calculated to be 21.26.
Shares Statistics:
The stock has traded on average 1.32M shares per day over the past 3-months and 994.1k shares per day over the last 10 days, according to various share statistics. A total of 188.44M shares are outstanding, with a floating share count of 135.20M. Insiders hold about 28.28% of the company’s shares, while institutions hold 55.01% stake in the company. Shares short for RELY as of Mar 15, 2024 were 6.69M with a Short Ratio of 4.96, compared to 6.59M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 3.55% and a Short% of Float of 4.78%.
Earnings Estimates
Its stock is currently analyzed by 7 different market analysts. On average, analysts expect EPS of -$0.15 for the current quarter, with a high estimate of -$0.1 and a low estimate of -$0.2, while EPS last year was -$0.16. The consensus estimate for the next quarter is -$0.1, with high estimates of -$0.08 and low estimates of -$0.14.
Analysts are recommending an EPS of between -$0.3 and -$0.57 for the fiscal current year, implying an average EPS of -$0.42. EPS for the following year is -$0.12, with 7 analysts recommending between $0.26 and -$0.41.
Revenue Estimates
9 analysts predict $273.96M in revenue for the current quarter. It ranges from a high estimate of $281M to a low estimate of $265M. As of the current estimate, Remitly Global Inc’s year-ago sales were $203.87M, an estimated increase of 34.40% from the year-ago figure. For the next quarter, 9 analysts are estimating revenue of $304.4M, an increase of 41.00% over than the figure of $34.40% in the same quarter last year. There is a high estimate of $312M for the next quarter, whereas the lowest estimate is $293.71M.
A total of 10 analysts have provided revenue estimates for RELY’s current fiscal year. The highest revenue estimate was $1.26B, while the lowest revenue estimate was $1.23B, resulting in an average revenue estimate of $1.24B. In the same quarter a year ago, actual revenue was $944.28M, up 31.60% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $1.55B in the next fiscal year. The high estimate is $1.62B and the low estimate is $1.5B. The average revenue growth estimate for next year is up 24.80% from the average revenue estimate for this year.
