Recent Investment Analysts’ Ratings Updates for Remitly Global (RELY)

Remitly Global (NASDAQ: RELY) has recently received a number of price target changes and ratings updates:

• 2/24/2025 – Remitly Global had its price target raised by analysts at Barclays PLC from $28.00 to $29.00. They now have an “overweight” rating on the stock.
• 2/20/2025 – Remitly Global had its price target raised by analysts at JPMorgan Chase & Co. from $21.00 to $30.00. They now have an “overweight” rating on the stock.
• 2/20/2025 – Remitly Global had its “outperform” rating reaffirmed by analysts at William Blair.
• 2/20/2025 – Remitly Global had its price target raised by analysts at BMO Capital Markets from $27.00 to $32.00. They now have an “outperform” rating on the stock.
• 2/20/2025 – Remitly Global had its price target raised by analysts at Wells Fargo & Company from $21.00 to $25.00. They now have an “equal weight” rating on the stock.
• 2/20/2025 – Remitly Global had its price target raised by analysts at The Goldman Sachs Group, Inc. from $28.00 to $33.00. They now have a “buy” rating on the stock.
• 2/3/2025 – Remitly Global had its price target raised by analysts at Barclays PLC from $23.00 to $28.00. They now have an “overweight” rating on the stock.
• 1/16/2025 – Remitly Global had its price target raised by analysts at Wells Fargo & Company from $18.00 to $21.00. They now have an “equal weight” rating on the stock.

Remitly Global Price Performance

Remitly Global stock opened at $23.32 on Tuesday. The firm’s fifty day moving average price is $23.86 and its 200 day moving average price is $19.12. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of -122.74 and a beta of 0.07. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $27.32.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The business had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $343.67 million. Analysts forecast that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total transaction of $367,637.43. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 43,749 shares of company stock worth $1,009,289. 8.10% of the stock is currently owned by insiders.

Institutional Trading of Remitly Global

Several hedge funds and other institutional investors have recently bought and sold shares of RELY. Global Retirement Partners LLC bought a new position in Remitly Global during the 4th quarter worth approximately $28,000. Advisors Asset Management Inc. boosted its holdings in Remitly Global by 58.7% in the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,466 shares during the period. Assetmark Inc. acquired a new position in Remitly Global in the third quarter worth $76,000. R Squared Ltd acquired a new position in Remitly Global in the fourth quarter worth $89,000. Finally, FMR LLC increased its stake in Remitly Global by 39.8% during the third quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 1,970 shares during the last quarter. 74.25% of the stock is owned by institutional investors.

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.