Remitly Global (NASDAQ:RELY) Price Target Raised to $22.00

Remitly Global (NASDAQ:RELY) had its price target hoisted by equities researchers at Citizens Jmp from $20.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target would suggest a potential upside of 61.65% from the company’s previous close.

Several other research analysts also recently commented on RELY. Monness Crespi & Hardt decreased their price target on shares of Remitly Global from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Cantor Fitzgerald raised shares of Remitly Global to a “strong-buy” rating in a research note on Tuesday, January 27th. Citigroup restated an “outperform” rating on shares of Remitly Global in a research report on Thursday. Finally, Bank of America initiated coverage on Remitly Global in a report on Tuesday, February 10th. They issued a “buy” rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Remitly Global Trading Up 4.1%

Remitly Global stock opened at $13.61 on Thursday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 151.22 and a beta of 0.11. Remitly Global has a 1-year low of $12.08 and a 1-year high of $27.27. The firm has a 50 day simple moving average of $13.72 and a 200 day simple moving average of $15.34.

Remitly Global (NASDAQ:RELY) last announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. The firm had revenue of $442.18 million during the quarter, compared to the consensus estimate of $427.27 million. Remitly Global had a net margin of 1.36% and a return on equity of 3.12%. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. On average, equities research analysts forecast that Remitly Global will post -0.04 EPS for the current year.

Insider Transactions at Remitly Global

In other Remitly Global news, Director Joshua Hug sold 40,776 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $13.33, for a total value of $543,544.08. Following the completion of the sale, the director owned 3,654,764 shares in the company, valued at approximately $48,718,004.12. This represents a 1.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pankaj Sharma sold 3,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the insider owned 220,830 shares of the company’s stock, valued at $3,312,450. This represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,776 shares of company stock worth $733,574 in the last 90 days. 7.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Remitly Global

Several large investors have recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of Remitly Global by 28.5% during the second quarter. Bank of Montreal Can now owns 327,956 shares of the financial services provider’s stock worth $6,156,000 after purchasing an additional 72,689 shares during the last quarter. Norges Bank acquired a new position in shares of Remitly Global in the 2nd quarter valued at $36,619,000. Geode Capital Management LLC grew its position in shares of Remitly Global by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,747,396 shares of the financial services provider’s stock valued at $70,347,000 after acquiring an additional 129,706 shares during the period. LB Partners LLC increased its stake in shares of Remitly Global by 60.4% in the 3rd quarter. LB Partners LLC now owns 1,015,584 shares of the financial services provider’s stock valued at $16,554,000 after purchasing an additional 382,314 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Remitly Global during the second quarter worth approximately $425,000. 74.25% of the stock is owned by institutional investors.

Key Headlines Impacting Remitly Global

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

• Positive Sentiment: Q4 beat — Remitly reported Q4 EPS of $0.19 (vs. ~$0.02 consensus) and revenue of $442.2M, up ~26% YoY, beating estimates and showing accelerating top-line growth. Earnings Call Transcript
• Positive Sentiment: Raised/firm revenue outlook — Management gave FY2026 revenue guidance around $1.9B–$2.0B and Q1 revenue guidance of $436M–$438M, both at or above Street estimates, supporting continued growth expectations. Press Release
• Positive Sentiment: Market reaction — Shares jumped sharply after-hours on the beats and guidance, signaling investor optimism about execution and the outlook. After-hours Move
• Neutral Sentiment: Leadership change — Remitly named Sebastian J. Gunningham as CEO amid a leadership transition; this is material but its long-term impact depends on execution and strategy under new leadership. CEO Appointment
• Neutral Sentiment: Earnings call detail & analyst take — Management commentary and the full transcript provide color on customer growth and margins; analysts maintain a mixed but generally constructive view (consensus “Moderate Buy”). Call Highlights
• Positive Sentiment: Institutional activity — Several large funds increased positions in recent quarters (AQR, Adage, etc.), which supports liquidity and interest from sophisticated investors. Institutional Holdings
• Negative Sentiment: Insider sale — A director sold 4,500 shares at about $12.89; modest in size but warrants note. SEC Filing
• Negative Sentiment: Valuation & mixed analyst views — The stock trades with a high forward P/E and a consensus target below pre-surge levels; some analysts have trimmed targets, so upside may be tied to sustained execution. Analyst Coverage

About Remitly Global

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.