While Remitly Global Inc has overperformed by 2.27%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RELY rose by 1.89%, with highs and lows ranging from $23.01 to $11.60, whereas the simple moving average jumped by 23.51% in the last 200 days.
On October 31, 2024, Wells Fargo Upgraded Remitly Global Inc (NASDAQ: RELY) to Equal Weight. A report published by BMO Capital Markets on February 22, 2024, Upgraded its rating to ‘Outperform’ for RELY. Wells Fargo also rated RELY shares as ‘Underweight’, setting a target price of $16 on the company’s shares in an initiating report dated January 17, 2024. BMO Capital Markets Initiated an Market Perform rating on December 05, 2023, and assigned a price target of $25. Wolfe Research December 01, 2023d its ‘Outperform’ rating to ‘Peer Perform’ for RELY, as published in its report on December 01, 2023. Wolfe Research’s report from August 04, 2023 suggests a price prediction of $28 for RELY shares, giving the stock a ‘Outperform’ rating. Wolfe Research also rated the stock as ‘Peer Perform’.
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Analysis of Remitly Global Inc (RELY)
Further, the quarter-over-quarter increase in sales is 39.27%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Remitly Global Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -11.46% is sufficient for you to turn a profit off your investment.
As an indicator of volatility for any stock, average volume can also be very valuable, and RELY is recording an average volume of 1.52M. On a monthly basis, the volatility of the stock is set at 4.33%, whereas on a weekly basis, it is put at 7.40%, with a gain of 29.85% over the past seven days. Furthermore, long-term investors anticipate a median target price of $21.80, showing growth from the present price of $19.36, which can serve as yet another indication of whether RELY is worth investing in or should be passed over.
How Do You Analyze Remitly Global Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 25.88%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 62.41% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
RELY shares are owned by institutional investors to the tune of 62.41% at present.
