While Remitly Global Inc has underperformed by -3.60%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RELY rose by 11.86%, with highs and lows ranging from $27.95 to $15.83, whereas the simple moving average fell by -8.13% in the last 200 days.
On February 22, 2024, BMO Capital Markets Upgraded Remitly Global Inc (NASDAQ: RELY) to Outperform. A report published by Wells Fargo on January 17, 2024, Initiated its previous ‘Underweight’ rating for RELY. BMO Capital Markets also rated RELY shares as ‘Market Perform’, setting a target price of $25 on the company’s shares in an initiating report dated December 05, 2023. Wolfe Research August 04, 2023d its ‘Peer Perform’ rating to ‘Outperform’ for RELY, as published in its report on August 04, 2023.
Analysis of Remitly Global Inc (RELY)
Further, the quarter-over-quarter increase in sales is 38.59%, showing a positive trend in the upcoming months.
Remitly Global Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -23.35% is sufficient for you to turn a profit off your investment.
The average volume for any stock is also a very valuable indicator of volatility, and RELY has an average volume of 1.32M. On a monthly basis, the volatility of the stock is set at 3.12%, whereas on a weekly basis, it is put at 3.76%, with a loss of -4.41% over the past seven days. Furthermore, long-term investors anticipate a median target price of $28.00, showing growth from the present price of $19.52, 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?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 28.28%. 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 55.01% 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 55.01% at present.
