Remitly Global (NASDAQ:RELY) Given New $26.00 Price Target at Citizens Jmp

Key Points

• Citizens Jmp raised its price target on Remitly from $22 to $26 and kept a "market outperform" rating, implying roughly a 14% upside from the current share price.
• Remitly posted a strong Q1 beat—EPS $0.23 vs. $0.12 estimate and revenue $452.8M (+25% YoY)—and has raised its full‑year 2026 outlook, pointing to accelerating profitability.
• Insiders have sold heavily (about 12.16 million shares worth ~$194.8M in the past three months), while institutional investors own roughly 74% of the company.

Remitly Global (NASDAQ:RELY - Get Free Report) had its target price upped by equities research analysts at Citizens Jmp from $22.00 to $26.00 in a research 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 objective would indicate a potential upside of 14.02% from the stock's current price.

A number of other brokerages have also recently issued reports on RELY. Weiss Ratings raised shares of Remitly Global from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, February 20th. Zacks Research cut shares of Remitly Global from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. KeyCorp raised their price objective on shares of Remitly Global from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Oppenheimer set a $20.00 price objective on shares of Remitly Global in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $27.00 price target on shares of Remitly Global in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.44.

Remitly Global Stock Performance

Shares of RELY traded down $0.93 during mid-day trading on Thursday, hitting $22.80. 4,317,464 shares of the company's stock were exchanged, compared to its average volume of 3,670,779. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $4.80 billion, a P/E ratio of 73.58, a P/E/G ratio of 0.84 and a beta of 0.40. Remitly Global has a fifty-two week low of $12.08 and a fifty-two week high of $24.70. The business's 50 day moving average is $17.69 and its two-hundred day moving average is $15.32.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.11. The firm had revenue of $452.80 million during the quarter, compared to the consensus estimate of $438.94 million. Remitly Global had a net margin of 4.15% and a return on equity of 8.87%. The firm's revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. On average, equities analysts expect that Remitly Global will post 0.51 earnings per share for the current year.

Insider Activity at Remitly Global

In other news, insider Ankur Sinha sold 9,741 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $16.94, for a total transaction of $165,012.54. Following the completion of the sale, the insider directly owned 1,180,119 shares of the company's stock, valued at $19,991,215.86. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joshua Hug sold 16,800 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $21.56, for a total transaction of $362,208.00. Following the sale, the director directly owned 3,533,503 shares of the company's stock, valued at $76,182,324.68. This represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 12,163,520 shares of company stock worth $194,773,102. 6.53% of the stock is owned by corporate insiders.

Institutional Trading of Remitly Global

Several large investors have recently added to or reduced their stakes in RELY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Remitly Global by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,845 shares of the financial services provider's stock valued at $1,848,000 after buying an additional 3,870 shares during the last quarter. Millennium Management LLC boosted its position in Remitly Global by 57.1% in the 1st quarter. Millennium Management LLC now owns 343,352 shares of the financial services provider's stock valued at $7,142,000 after buying an additional 124,798 shares during the last quarter. Caxton Associates LLP purchased a new position in Remitly Global in the 1st quarter valued at about $218,000. Focus Partners Wealth purchased a new position in Remitly Global in the 1st quarter valued at about $1,458,000. Finally, Cetera Investment Advisers boosted its position in Remitly Global by 12.0% in the 2nd quarter. Cetera Investment Advisers now owns 12,025 shares of the financial services provider's stock valued at $226,000 after buying an additional 1,286 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Remitly Global

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

• Positive Sentiment: Remitly reported a strong Q1: EPS $0.23 vs. $0.12 est., revenue $452.8M (+25% YoY), net income $49.1M and Adj. EBITDA $101.6M; the company raised its full‑year 2026 outlook, highlighting accelerating profitability. Remitly Reports Record First Quarter Results and Raises Full Year 2026 Outlook
• Positive Sentiment: Monness Crespi & Hardt raised their price target on RELY from $30 to $33 and reiterated a "buy" rating, implying meaningful upside from current levels — a catalyst for bullish investor interest.
• Positive Sentiment: New CEO Sebastian Gunningham is publicly outlining a growth opportunity in cross‑border payments and plans to expand Remitly’s addressable market, which supports a positive medium‑term growth narrative. Overcharged and Underserved: Remitly's New CEO Sees a Big Opening in Cross-Border Payments
• Neutral Sentiment: Full earnings materials and the Q1 earnings call transcript are available for deeper review; they provide management detail on guidance and margin drivers but contain no surprising adjustments beyond the published beat-and-raise. RELY Q1 2026 Earnings Call Transcript
• Negative Sentiment: Incumbent competitors are making strategic moves (e.g., Western Union exploring a Solana-based stablecoin) that could pressure pricing or market share in cross‑border payments — a potential longer‑term headwind for Remitly. Old Money, New Tech: Western Union's Crypto Reboot (RELY)

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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