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Saturday, June 3, 2023

There’s No Getting Around Remitly Global Inc. (NASDAQ: RELY) Success

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Remitly Global Inc. (RELY) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.11, or 0.60%, to $18.48. The Remitly Global Inc. has recorded 147,814 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Remitly Announces Investor Conference Participation for May 2023.

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Stocks Info

RELY belongs to the Technology sector of the NASDAQ while operating in the Software – Infrastructure industry. At the end of the last regular session, the stock closed at $18.37 and fluctuated between $18.51 as its day high and $18.11 as its day low. The current market capitalization of Remitly Global Inc. is $3.22B. A total of 0.85 million shares were traded on the day, compared to an average of 1.16M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, RELY has seen 10 BUY and 4 SELL insider trades, representing the acquisition of 450,358 and the disposition of 106,904 shares. Over the last 12 months, there were 32 BUYs and 16 SELLs from insiders. Insiders purchased 581,627 shares during that period but sold 740,378.

In the most recent transaction, Hug Joshua sold 7,354 shares of RELY for 15.49 per share on Mar 06. After the transaction, the Chief Operating Officer now owns 4,153,631 company shares. In a previous transaction on Nov 29, Yoakum Rene sold 5,427 shares at 9.94 per share. RELY shares that EVP, Customer and Culture owns now total 286.

Among the insiders who sold shares, Hug Joshua disposed of 7,728 shares on Nov 28 at a per-share price of $10.30. This resulted in the Chief Operating Officer holding 4,173,631 shares of RELY after the transaction. In another insider transaction, Yoakum Rene sold 5,971 shares at $10.00 per share on Nov 10. Company shares held by the EVP, Customer and Culture now total 286.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for RELY in the last 3 months, the mean price target is $21.50 with high estimates of $23.00 and low estimates of $21.00. In terms of 52-week highs and lows, RELY has a high of $18.56 and a low of $6.66.

As of this writing, RELY has an earnings estimate of -$0.16 per share for the current quarter. EPS was calculated based on a consensus of 4 estimates, with a high estimate of -$0.15 per share and a lower estimate of -$0.18. The company reported an EPS of -$0.11 in the last quarter, which was 21.40% higher than expectations of -$0.14.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. RELY’s latest balance sheet shows that the firm has $403.26M in Cash & Short Term Investments as of fiscal 2021. There were $6.15M in debt and $141.62M in liabilities at the time. Its Book Value Per Share was $2.83, while its Total Shareholder’s Equity was $480.33M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for RELY is Buy with a score of 5.00.

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