Based on ratings from 0 stock analysts, the Remitly Global, Inc. stock price is expected to increase by 20.51% in 12 months. This is calculated by using the average 12-month stock price forecast for Remitly Global, Inc.. The lowest target is $18 and the highest is $30. Please note analyst price targets are not guaranteed and could be missed completely.
RELY is a stock in Technology which has been forecasted to be worth $23.5 as an average. On the higher end, the forecast price is $30 USD by Andrew Schmidt from Citigroup and on the lower end RELY is forecasted to be $18 by Andrew Bauch from Wells Fargo.
These are the latest 20 analyst ratings of RELY.
Analyst/Firm |
Rating |
Price Target |
Change |
Date |
---|---|---|---|---|
Ramsey El-Assal Barclays | Overweight | $20 | Maintains | Nov 4, 2024 |
David Scharf JMP Securities | Market Outperform | $25 | Maintains | Oct 31, 2024 |
Josh Beck Keybanc | Overweight | $21 | Maintains | Oct 31, 2024 |
Andrew Bauch Wells Fargo | Equal-Weight | $18 | Upgrade | Oct 31, 2024 |
Rufus Hone BMO Capital | Outperform | $24 | Maintains | Sep 18, 2024 |
Tien-Tsin Huang JP Morgan | Overweight | $21 | Maintains | Aug 20, 2024 |
Gus Gala Monness, Crespi, Hardt | Buy | $30 | Maintains | Aug 1, 2024 |
Andrew Bauch Wells Fargo | Underweight | $13 | Maintains | Jul 31, 2024 |
David Scharf JMP Securities | Market Outperform | $22 | Reiterates | Jul 29, 2024 |
Will Nance Goldman Sachs | Buy | $20 | Maintains | Jul 11, 2024 |
Ramsey El-Assal Barclays | Overweight | $16 | Maintains | Jun 17, 2024 |
Rufus Hone BMO Capital | Outperform | $23 | Maintains | Jun 17, 2024 |
David Scharf JMP Securities | Market Outperform | $22 | Maintains | Jun 11, 2024 |
Ramsey El-Assal Barclays | Overweight | $20 | Maintains | May 6, 2024 |
Rufus Hone BMO Capital | Outperform | $24 | Maintains | May 2, 2024 |
Tien-Tsin Huang JP Morgan | Overweight | $28 | Maintains | May 2, 2024 |
Andrew Bauch Wells Fargo | Underweight | $15 | Maintains | May 2, 2024 |
Andrew Bauch Wells Fargo | Underweight | $17 | Maintains | May 1, 2024 |
David Scharf JMP Securities | Market Outperform | $32 | Reiterates | Apr 17, 2024 |
Gus Gala Monness, Crespi, Hardt | Buy | $29 | Initiates | Mar 20, 2024 |
When did it IPO
2021
Staff Count
2,700
Country
United States
Sector/Industry
Technology/SoftwareโInfrastructure
CEO
Mr. Matthew B. Oppenheimer
Market Cap
$3.86B
In 2023, RELY generated $944.3M in revenue, which was a increase of 44.48% from the previous year. This can be seen as a signal that RELY's business is growing, and its share price could be worth more in the future. However, if the company grows faster (or slower) than expected, this could also have a major impact on the future share price.
Revenue From 2020
Revenue From 2021
Revenue From 2022
Revenue From 2023
Summary - Remitly shares rose in after-hours trading following the company's announcement of its first profitable quarter.
Why It Matters - Remitly's first profitable quarter indicates strong financial health, boosting investor confidence and potentially increasing stock value due to positive growth prospects.
Summary - Shares of the fintech company rose significantly following the release of a strong earnings report.
Why It Matters - Strong earnings can indicate robust business performance, potentially driving share prices higher and attracting more investor interest in the fintech sector.
Summary - A remittance startup is experiencing accelerated growth, indicating potential opportunities for investors in the financial technology sector.
Why It Matters - Accelerating growth for the remittance upstart suggests increasing market demand, potential for higher revenues, and opportunities for investors to capitalize on expanding financial technology.
Summary - Remitly Global, Inc. (NASDAQ: RELY) will hold its Q3 2024 earnings conference call on October 30, 2024, at 5:00 PM ET, featuring key company executives and financial analysts.
Why It Matters - Remitly's Q3 earnings call signals key financial insights, operational performance, and strategic direction, which influence market sentiment and can affect stock valuation.
Summary - Remitly Global, Inc. reported a 35% increase in active customers and a 39% rise in revenue year-over-year for Q3 2024, achieving GAAP net income profitability and record Adjusted EBITDA.
Why It Matters - Significant growth in active customers and revenue, along with achieving profitability, highlights Remitly's strong market position and potential for future expansion, positively impacting investor sentiment.
Summary - Remitly Global, Inc. (RELY) reported Q3 earnings of $0.01 per share, surpassing estimates of a $0.06 loss, and improved from a $0.20 loss per share a year earlier.
Why It Matters - Remitly's earnings beat expectations and improved from last year's loss, indicating potential growth and operational efficiency, which may boost investor confidence and stock performance.