Monness Crespi & Hardt Forecasts Strong Price Appreciation for Remitly Global (NASDAQ:RELY) Stock

Key Points

• Monness Crespi & Hardt raised its price target on Remitly to $33 and maintained a "buy" rating, implying roughly a 39% upside from the current price.
• Remitly posted a strong Q1 beat — $0.23 EPS vs. $0.12 expected and $452.8M revenue (up 25% YoY) — with sharply improved profitability (net income +332%, adjusted EBITDA +74%), a raised FY26 outlook, and send volume growth of ~37%.
• Insiders executed large sales (Ltd Naspers sold 12M shares for about $191.8M), but institutional investors have been adding shares (institutions now own ~74.3%); consensus remains a "Moderate Buy" with an average target of $23.22.

Remitly Global (NASDAQ:RELY - Get Free Report) had its price target increased by stock analysts at Monness Crespi & Hardt from $30.00 to $33.00 in a research report issued on Thursday. The firm presently has a "buy" rating on the financial services provider's stock. Monness Crespi & Hardt's target price points to a potential upside of 39.06% from the company's current price.

A number of other research firms also recently commented on RELY. KeyCorp increased 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. The Goldman Sachs Group upped their price target on shares of Remitly Global from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Freedom Capital raised shares of Remitly Global to a "strong-buy" rating in a research note on Wednesday, April 1st. Cantor Fitzgerald boosted their target price on shares of Remitly Global from $20.00 to $24.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Remitly Global presently has a consensus rating of "Moderate Buy" and an average target price of $23.22.

Remitly Global Stock Down 0.0%

RELY opened at $23.73 on Thursday. The company has a market capitalization of $4.99 billion, a PE ratio of 76.55, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. The firm has a 50-day simple moving average of $17.69 and a two-hundred day simple moving average of $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 has a 52 week low of $12.08 and a 52 week high of $24.70.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.23 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $438.94 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm's revenue for the quarter was up 25.2% on a year-over-year basis. Analysts forecast that Remitly Global will post 0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joshua Hug sold 16,800 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $21.56, for a total value of $362,208.00. Following the transaction, the director directly owned 3,533,503 shares in the company, valued at approximately $76,182,324.68. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ltd Naspers sold 12,000,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.98, for a total transaction of $191,760,000.00. Following the completion of the transaction, the insider directly owned 13,441,745 shares in the company, valued at $214,799,085.10. This represents a 47.17% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 12,163,520 shares of company stock valued at $194,773,102. 6.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Remitly Global

A number of large investors have recently modified their holdings of the business. Baillie Gifford & Co. raised its stake in Remitly Global by 48.2% in the 4th quarter. Baillie Gifford & Co. now owns 11,658,558 shares of the financial services provider's stock worth $160,888,000 after acquiring an additional 3,790,210 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Remitly Global by 86.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider's stock valued at $90,530,000 after buying an additional 2,567,446 shares during the last quarter. Marshall Wace LLP increased its holdings in Remitly Global by 74.4% in the 3rd quarter. Marshall Wace LLP now owns 4,599,144 shares of the financial services provider's stock worth $74,966,000 after buying an additional 1,962,076 shares during the period. Azora Capital LP purchased a new position in Remitly Global during the 3rd quarter worth approximately $31,213,000. Finally, Capital International Investors acquired a new stake in Remitly Global during the 4th quarter valued at approximately $24,328,000. Hedge funds and other institutional investors own 74.25% of the company's stock.

Trending Headlines about Remitly Global

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

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.

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