Remitly Global (RELY) Projected to Post 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 and revenue of $343.67 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Remitly Global Stock Up 3.6 %

Shares of NASDAQ RELY opened at $27.14 on Tuesday. The firm has a market capitalization of $5.38 billion, a P/E ratio of -77.54 and a beta of 0.07. The stock’s 50-day simple moving average is $23.29 and its two-hundred day simple moving average is $18.41. Remitly Global has a twelve month low of $11.60 and a twelve month high of $27.24.

Insider Buying and Selling

In other Remitly Global news, insider Joshua Hug sold 22,198 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $20.62, for a total value of $457,722.76. Following the completion of the sale, the insider now owns 3,873,811 shares in the company, valued at approximately $79,877,982.82. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.21, for a total value of $367,637.43. Following the completion of the sale, the chief executive officer now owns 4,358,679 shares of the company’s stock, valued at approximately $109,882,297.59. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,059 shares of company stock worth $1,489,808 in the last ninety days. 8.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.