Remitly Global (RELY) Projected to Post Quarterly Earnings on Wednesday

Remitly Global (NASDAQ:RELY) is expected to be announcing its earnings results after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of ($0.07) per share and revenue of $343.67 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Remitly Global Stock Up 3.6 %

NASDAQ RELY opened at $27.14 on Tuesday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of -77.54 and a beta of 0.07. Remitly Global has a 52 week low of $11.60 and a 52 week high of $27.24. The business has a 50 day moving average price of $23.29 and a 200-day moving average price of $18.41.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RELY. Wells Fargo & Company upped their price target on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Barclays upped their price target on Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JMP Securities upped their price target on Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Finally, KeyCorp upped their price target on Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Insiders Place Their Bets

In other news, insider Joshua Hug sold 22,198 shares of the company’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 transaction, the insider now owns 3,873,811 shares of the company’s stock, valued at $79,877,982.82. This represents a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $23.14, for a total value of $337,450.62. Following the transaction, the chief executive officer now directly owns 4,387,845 shares in the company, valued at $101,534,733.30. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,059 shares of company stock valued at $1,489,808. Insiders own 8.10% of the company’s stock.

About Remitly Global

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.