Remitly Global (RELY) Expected to Announce Quarterly Earnings on Wednesday

Remitly Global (NASDAQ:RELY) is anticipated to announce its earnings results after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of ($0.07) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Remitly Global Stock Performance

RELY opened at $25.22 on Wednesday. The stock has a 50-day moving average of $22.77 and a 200-day moving average of $17.96. Remitly Global has a 52-week low of $11.60 and a 52-week high of $25.78. The company has a market cap of $5.00 billion, a PE ratio of -72.06 and a beta of 0.07.

Wall Street Analyst Weigh In

RELY has been the subject of a number of analyst reports. 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 research note on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Remitly Global from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. JMP Securities increased their target price on Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, KeyCorp raised their target price on Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.75.

Insider Activity

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $20.86, for a total transaction of $304,201.38. Following the completion of the transaction, the chief executive officer now directly owns 4,417,011 shares of the company’s stock, valued at $92,138,849.46. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua Hug sold 22,198 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $79,877,982.82. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,059 shares of company stock valued at $1,489,808 over the last three months. 8.10% of the stock is owned by insiders.

Remitly Global Company Profile

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.