Monness Crespi & Hardt Raises Remitly Global (NASDAQ:RELY) Price Target to $33.00

Remitly Global (NASDAQ:RELY) had its price target boosted by research analysts at Monness Crespi & Hardt from $30.00 to $33.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Monness Crespi & Hardt’s target price would suggest a potential upside of 39.06% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Zacks Research lowered shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. JPMorgan Chase & Co. cut their price objective on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Cantor Fitzgerald increased their target price on shares of Remitly Global from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. KeyCorp raised their target price on Remitly Global from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Finally, Citigroup reaffirmed an “outperform” rating on shares of Remitly Global in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.22.

Remitly Global Stock Down 0.0%

Remitly Global stock opened at $23.73 on Thursday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 76.55, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. Remitly Global has a 52 week low of $12.08 and a 52 week high of $24.70. The business’s 50-day moving average price is $17.69 and its 200 day moving average price is $15.32. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.18.

Remitly Global (NASDAQ:RELY) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.The company had revenue of $452.80 million during the quarter, compared to the consensus estimate of $438.94 million. During the same period in the previous year, the company posted $0.05 earnings per share. Remitly Global’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Remitly Global will post 0.51 earnings per share for the current year.

Insider Transactions at Remitly Global

In other Remitly Global news, insider Pankaj Sharma sold 10,000 shares of Remitly Global stock in a transaction on Friday, April 17th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the insider owned 665,878 shares of the company’s stock, valued at $13,317,560. The trade was a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joshua Hug sold 29,049 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $17.98, for a total transaction of $522,301.02. Following the sale, the director directly owned 3,575,733 shares of the company’s stock, valued at $64,291,679.34. The trade was a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,163,520 shares of company stock worth $194,773,102 in the last quarter. 6.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Remitly Global

A number of large investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new stake in Remitly Global in the 4th quarter valued at $25,000. Summit Securities Group LLC purchased a new stake in shares of Remitly Global in the first quarter valued at about $26,000. Cullen Frost Bankers Inc. purchased a new position in Remitly Global during the fourth quarter worth about $28,000. GAMMA Investing LLC raised its stake in Remitly Global by 280.2% during the fourth quarter. GAMMA Investing LLC now owns 2,209 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,628 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in Remitly Global in the 3rd quarter valued at about $33,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

Remitly Global News Roundup

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Q1 beat: Remitly reported $0.23 EPS vs. $0.12 consensus and revenue of $452.8M (vs. ~$439M est.), showing 25% YoY revenue growth and improving margins — a primary catalyst for the stock. Article Title
• Positive Sentiment: Profitability and cash metrics improved: Q1 net income rose sharply (~$49.1M, +332% YoY) and Adjusted EBITDA increased ~74% — signals that growth is translating into durable profits. Article Title
• Positive Sentiment: Raised full‑year outlook: Management updated FY26 guidance higher (company said it raised its outlook alongside record Q1 results), supporting forward revenue and margin expectations. Article Title
• Positive Sentiment: Operational momentum: Send volume grew ~37% YoY, indicating strong customer demand and TAM expansion under the new CEO’s strategy. Article Title
• Neutral Sentiment: New CEO commentary: Sebastian Gunningham framed a sizeable market opportunity and product focus in interviews — useful for long‑term thesis but not an immediate earnings surprise. Article Title
• Neutral Sentiment: Earnings materials available: Full Q1 earnings call transcript and slide deck give detail for analysts to model forward performance — expect updates to estimates after review. Article Title Slide Deck
• Negative Sentiment: Competitive pressure: Western Union’s move to deploy a Solana‑based stablecoin signals incumbents are experimenting with crypto rails to cut costs — this could intensify competition and margin pressure in parts of Remitly’s market. Article Title

Remitly Global Company Profile

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.