Remitly Global, Inc.

Remitly Global, Inc. Stock Forecast & Price Prediction

Live Remitly Global, Inc. Stock (RELY) Price
$19.50

0

Ratings

  • Buy 0
  • Hold 0
  • Sell 0
Disclaimer : Analyst ratings and price forecasts are sourced from Wall St analysts and other experts. These projections are speculative and do not guarantee future stock performance. This information is for educational purposes only and should not be construed as advice to buy or sell any security.

Stock Price

$19.50

P/E Ratio

-30.00

Volume Traded Today

$2.0M

Dividend

Dividends not available for RELY

52 Week High/low

23.01/11.60

Remitly Global, Inc. Market Cap

$3.86B

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RELY Summary

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 Analyst Ratings

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.

RELY stock forecast by analyst

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

RELY Company Information

What They Do: Provides digital financial services for immigrants.

Business Model: The company operates a platform that facilitates cross-border remittance services, allowing users to send money internationally through a mobile app and website. It generates revenue primarily through transaction fees charged for these remittance services.

Other Information: Founded in 2011 and headquartered in Seattle, Remitly Global, Inc. serves customers in the United States, Canada, and other countries, making it a key player in the digital financial services sector for immigrants and their families.
RELY
Remitly Global, Inc. (RELY)

When did it IPO

2021

Staff Count

2,700

Country

United States

Sector/Industry

Technology/Softwareโ€”Infrastructure

CEO

Mr. Matthew B. Oppenheimer

Market Cap

$3.86B

Remitly Global, Inc. (RELY) Financial Data

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

$257.0M

Revenue From 2021

$458.6M

78.48 %
From Previous Year

Revenue From 2022

$653.6M

42.51 %
From Previous Year

Revenue From 2023

$944.3M

44.48 %
From Previous Year
  • Revenue TTM $1.18B
  • Operating Margin TTM 0.1%
  • Gross profit TTM $532.7M
  • Return on assets TTM -4.5%
  • Return on equity TTM -11.5%
  • Profit Margin -5.6%
  • Book Value Per Share 3.19%
  • Market capitalisation $3.86B
  • Revenue for 2021 $458.6M
  • Revenue for 2022 $653.6M
  • Revenue for 2023 $944.3M
  • EPS this year (TTM) $-0.35

Remitly Global, Inc. (RELY) Latest News

News Image

Wed, 30 Oct 2024

Sentiment - POSITIVE

Source - GeekWire

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.

News Image

Thu, 31 Oct 2024

Sentiment - POSITIVE

Source - The Motley Fool

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.

News Image

Fri, 01 Nov 2024

Sentiment - POSITIVE

Source - The Motley Fool

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.

News Image

Wed, 30 Oct 2024

Sentiment - NEUTRAL

Source - Seeking Alpha

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.

News Image

Wed, 30 Oct 2024

Sentiment - NEUTRAL

Source - GlobeNewsWire

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.

News Image

Wed, 30 Oct 2024

Sentiment - POSITIVE

Source - Zacks Investment Research

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.

...

RELY Frequently asked questions

The highest forecasted price for RELY is $30 from Andrew Schmidt at Citigroup.

The lowest forecasted price for RELY is $18 from Andrew Bauch from Wells Fargo

The RELY analyst ratings consensus are 0 buy ratings, 0 hold ratings, and 0 sell ratings.