Remitly Global (RELY) Expected to Announce Earnings on Wednesday

Remitly Global (NASDAQ:RELY - Get Free Report) is expected to be releasing its Q4 2024 earnings data after the market closes on Wednesday, February 19th. Analysts expect Remitly Global to post earnings of ($0.07) per share and revenue of $343.67 million for the quarter. Remitly Global has set its Q1 2025 guidance at EPS and its FY 2025 guidance at EPS.Investors interested in listening to the company's conference call can do so using this link.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. Remitly Global had a negative return on equity of 11.58% and a negative net margin of 5.63%. On average, analysts expect Remitly Global to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Remitly Global Price Performance

RELY stock traded down $0.56 during trading on Wednesday, hitting $25.91. 3,424,112 shares of the stock traded hands, compared to its average volume of 1,639,683. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of -74.03 and a beta of 0.07. Remitly Global has a 1 year low of $11.60 and a 1 year high of $27.32. The firm's 50 day moving average is $23.49 and its two-hundred day moving average is $18.55.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RELY shares. Barclays boosted their price objective on shares of Remitly Global from $23.00 to $28.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price target on Remitly Global from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. KeyCorp increased their price objective on Remitly Global from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, JMP Securities lifted their price objective on Remitly Global from $22.00 to $25.00 and gave the stock a "market outperform" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Remitly Global has an average rating of "Moderate Buy" and a consensus price target of $23.75.

Insiders Place Their Bets

In other Remitly Global news, insider Joshua Hug sold 22,198 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total transaction of $457,722.76. Following the completion of the sale, the insider now directly owns 3,873,811 shares of the company's stock, valued at approximately $79,877,982.82. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.86, for a total transaction of $304,201.38. Following the transaction, the chief executive officer now owns 4,417,011 shares in the company, valued at $92,138,849.46. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,947 shares of company stock valued at $1,467,012. Insiders own 8.10% of the company's stock.

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.