Is NASDAQ:RELY a Fit for high Growth Investing Strategies?

Our stock screener has spotted REMITLY GLOBAL INC (NASDAQ:RELY) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:RELY.

Analyzing the Technical Aspects

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall RELY gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, RELY is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• RELY is part of the Financial Services industry. There are 99 other stocks in this industry. RELY outperforms 90% of them.
• A new 52 week high is currently being made by RELY, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so RELY is leading the market.
• In the last month RELY has a been trading in the 20.35 - 23.11 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, RELY did better than 92% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.

For an up to date full technical analysis you can check the technical report of RELY

Why is NASDAQ:RELY a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:RELY has a 7 as its setup rating, indicating its current consolidation status.

RELY has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. Another positive sign is the recent Pocket Pivot signal.

Why NASDAQ:RELY may be interesting for high growth investors.

• The earnings per share (EPS) of REMITLY GLOBAL INC have shown positive growth on a quarter-to-quarter (Q2Q) basis, with a 105.0% increase. This reflects the company's ability to improve its profitability over time.
• REMITLY GLOBAL INC has demonstrated strong q2q revenue growth of 39.27%, suggesting a favorable trend in the company's financials and indicating the potential for continued expansion.
• REMITLY GLOBAL INC has achieved significant 1-year revenue growth of 35.19%, signaling its ability to capture market opportunities and drive top-line expansion. This growth indicates the company's effective execution and its potential for continued success.
• The quarterly earnings of REMITLY GLOBAL INC have shown a 105.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• REMITLY GLOBAL INC shows accelerating EPS growth: when comparing the current Q2Q growth of 105.0% to the previous year Q2Q growth of 0.0%, we see the growth rate improving.
• With positive growth in its operating margin over the past year, REMITLY GLOBAL INC showcases its ability to improve profitability through effective cost control and operational efficiency. This growth underscores the company's commitment to enhancing its financial performance.
• With a favorable trend in its free cash flow (FCF) over the past year, REMITLY GLOBAL INC demonstrates its ability to generate robust cash flows and maintain financial stability. This growth reflects the company's focus on efficient capital allocation and cash management.
• With a current Debt-to-Equity ratio at 0.0, REMITLY GLOBAL INC showcases its disciplined capital structure. The company's prudent management of debt obligations contributes to its financial stability and long-term sustainability.
• REMITLY GLOBAL INC exhibits a favorable ownership structure, with an institutional shareholder ownership of 82.69%. This signifies a diverse investor base, which can contribute to a more stable and efficient market for the stock.
• With a track record of beating EPS estimates in the last 4 quarters, REMITLY GLOBAL INC showcases its consistent ability to deliver earnings surprises. This reflects the company's strong execution and its competitive position in the market.
• REMITLY GLOBAL INC has achieved an impressive Relative Strength (RS) rating of 92.02, showcasing its ability to outperform the broader market. This strong performance positions REMITLY GLOBAL INC as an attractive stock for potential price appreciation.

Our High Growth Momentum Breakout screen will find you more ideas suited for high growth momentum breakouts.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.