Remitly Global (RELY) Stock Price, News & Analysis

Company Overview

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.

Key Stats

• Today's Range: $21.21 to $22.70
• 50-Day Range: $13.56 to $22.61
• 52-Week Range: $11.60 to $22.70
• Volume: 3.04 million shs
• Average Volume: 1.72 million shs
• Market Capitalization: $4.48 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $22.75
• Consensus Rating: Moderate Buy

Remitly Global Stock Analysis - MarketRank™

Remitly Global scored higher than 24% of companies evaluated by MarketBeat, and ranked 265th out of 333 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Remitly Global has received a consensus rating of Moderate Buy. The company's average rating score is 2.89, and is based on 8 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Remitly Global has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Remitly Global are expected to grow in the coming year, from ($0.23) to ($0.04) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Remitly Global is -64.60, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Remitly Global is -64.60, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Remitly Global has a P/B Ratio of 7.91. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

5.60% of the float of Remitly Global has been sold short.

Short Interest Ratio / Days to Cover

Remitly Global has a short interest ratio ("days to cover") of 4.3.

Change versus previous month

Short interest in Remitly Global has recently decreased by 11.78%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Remitly Global does not currently pay a dividend.

Dividend Growth

Remitly Global does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

5.60% of the float of Remitly Global has been sold short.

Short Interest Ratio / Days to Cover

Remitly Global has a short interest ratio ("days to cover") of 4.3.

Change versus previous month

Short interest in Remitly Global has recently decreased by 11.78%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 1.21

News Sentiment

Remitly Global has a news sentiment score of 1.21. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.59 average news sentiment score of Business Services companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for Remitly Global this week, compared to 3 articles on an average week.

Search Interest

Only 5 people have searched for RELY on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

MarketBeat Follows

Only 6 people have added Remitly Global to their MarketBeat watchlist in the last 30 days. This is a decrease of -45% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Remitly Global insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,435,212.00 in company stock.

Percentage Held by Insiders

Only 8.10% of the stock of Remitly Global is held by insiders.

Percentage Held by Institutions

74.25% of the stock of Remitly Global is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

RELY Stock Analysis - Frequently Asked Questions

How have RELY shares performed this year?

Remitly Global's stock was trading at $19.42 on January 1st, 2024. Since then, RELY shares have increased by 16.4% and is now trading at $22.61.
View the best growth stocks for 2024 here.

How were Remitly Global's earnings last quarter?

Remitly Global, Inc. (NASDAQ:RELY) released its earnings results on Wednesday, October, 30th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm's revenue was up 39.3% compared to the same quarter last year.

When did Remitly Global IPO?

Remitly Global (RELY) raised $487 million in an initial public offering (IPO) on Thursday, September 23rd 2021. The company issued 12,162,777 shares at a price of $38.00-$42.00 per share.

Who are Remitly Global's major shareholders?

Remitly Global's top institutional investors include Baillie Gifford & Co. (4.66%), Massachusetts Financial Services Co. MA (1.85%), ArrowMark Colorado Holdings LLC (1.79%) and Geode Capital Management LLC (1.76%). Insiders that own company stock include Matthew B Oppenheimer, Joshua Hug, Nigel W Morris, Ankur Sinha, Pankaj Sharma, Hemanth Munipalli and Rene Yoakum.
View institutional ownership trends.

How do I buy shares of Remitly Global?

Shares of RELY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Remitly Global own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Remitly Global investors own include Bank of America (BAC), Cenveo (CVO), Gran Tierra Energy (GTE), OncoSec Medical (ONCS), Ascent Solar Technologies (ASTI), Icahn Enterprises (IEP) and Synergy Pharmaceuticals (SGYP).

Company Calendar

• Last Earnings: 10/30/2024
• Today: 12/21/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Business Services
• Industry: Business services, not elsewhere classified
• Sub-Industry: N/A
• Current Symbol: NASDAQ:RELY
• Previous Symbol: NASDAQ:RELY
• CUSIP: N/A
• CIK: 38984
• Web: realindustryinc.com
• Phone: +1-805-4351255
• Fax: N/A
• Employees: 2,700
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $22.75
• High Stock Price Target: $30.00
• Low Stock Price Target: $18.00
• Potential Upside/Downside: +0.6%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.89
• Research Coverage: 9 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.35)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-117,840,000.00
• Net Margins: -5.63%
• Pretax Margin: -4.65%
• Return on Equity: -11.58%
• Return on Assets: -6.57%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 2.66
• Quick Ratio: 2.66

Sales & Book Value

• Annual Sales: $1.18 billion
• Price / Sales: 3.81
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $2.86 per share
• Price / Book: 7.91

Miscellaneous

• Outstanding Shares: 198,061,000
• Free Float: 182,018,000
• Market Cap: $4.48 billion
• Optionable: Optionable
• Beta: 0.10