Stocks of Remitly Global Inc (NASDAQ:RELY) traded higher last session on Wall Street, up 3.37% to $20.25.
RELY stock price is now 35.05% away from the 50-day moving average and 28.46% away from the 200-day moving average. The market capitalization of the company currently stands at $4.01B.
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With the price target enhanced from $13 to $18, Wells Fargo Upgraded its rating from Underweight to Equal Weight for Remitly Global Inc (NASDAQ: RELY). On February 22, 2024, BMO Capital Markets Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock increasing its target price from $24 to quote $28, while ‘Wells Fargo’ rates the stock as ‘Underweight’
In other news, Matthew B. Oppenheimer, Officer bought 116,672 shares of the company’s stock on Nov 13 ’24. The stock was bought for $2,362,608 at an average price of $20.25. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 11 ’24, EVP, Customer and Culture Yoakum Rene sold 14,557 shares of the business’s stock. A total of $291,140 was realized by selling the stock at an average price of $20.00. This leaves the insider owning 122,522 shares of the company worth $2.48 million. A total of 25.88% of the company’s stock is owned by insiders.
During the past 12 months, Remitly Global Inc has had a low of $11.60 and a high of $23.01. The fifty day moving average price for RELY is $14.86 and a two-hundred day moving average price translates $15.747675 for the stock.
The latest earnings results from Remitly Global Inc (NASDAQ: RELY) was released for 2024-09-30. The net profit margin was -5.63% and return on equity was -11.46% for RELY. The company reported revenue of $336.53 million for the quarter, compared to $241.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 39.27 percent.
