Remitly Global (RELY) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Remitly Global is set to announce its Q2 2025 earnings on August 6th, with analysts expecting earnings of $0.18 per share and revenue of $384.59 million.
• The company's previous quarterly results showed a revenue increase of 34.3% compared to the same quarter last year, with reported earnings of $0.05 per share.
• Several analysts have raised their price targets for Remitly Global, with an average target price now at $28.88, indicating a "Moderate Buy" rating.

Remitly Global (NASDAQ:RELY - Get Free Report) is expected to announce its Q2 2025 earnings results after the market closes on Wednesday, August 6th. Analysts expect the company to announce earnings of $0.18 per share and revenue of $384.59 million for the quarter. Remitly Global has set its Q2 2025 guidance at EPS and its FY 2025 guidance at EPS.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. The company had revenue of $361.62 million for the quarter, compared to the consensus estimate of $347.81 million. Remitly Global had a negative net margin of 0.34% and a negative return on equity of 0.70%. Remitly Global's revenue for the quarter was up 34.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. On average, analysts expect Remitly Global to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Remitly Global Stock Performance

Shares of RELY traded down $0.37 on Friday, hitting $16.13. 1,057,065 shares of the stock traded hands, compared to its average volume of 2,722,804. Remitly Global has a one year low of $12.43 and a one year high of $27.32. The company has a market capitalization of $3.29 billion, a PE ratio of -536.83 and a beta of 0.13. The business has a 50 day simple moving average of $19.29 and a 200 day simple moving average of $21.16.

Insider Buying and Selling

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $17.28, for a total transaction of $251,994.24. Following the completion of the transaction, the chief executive officer directly owned 4,212,849 shares of the company's stock, valued at approximately $72,798,030.72. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Phillip John Riese sold 5,000 shares of Remitly Global stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $20.34, for a total transaction of $101,700.00. Following the completion of the sale, the director owned 102,257 shares in the company, valued at approximately $2,079,907.38. This represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,079,551 shares of company stock worth $276,183,987 in the last quarter. 7.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RELY. Millennium Management LLC increased its holdings in shares of Remitly Global by 57.1% in the first quarter. Millennium Management LLC now owns 343,352 shares of the financial services provider's stock worth $7,142,000 after purchasing an additional 124,798 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Remitly Global during the 1st quarter valued at approximately $1,458,000. Caxton Associates LLP bought a new position in shares of Remitly Global during the 1st quarter valued at approximately $218,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Remitly Global by 4.6% in the first 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 purchasing an additional 3,870 shares in the last quarter. Institutional investors own 74.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RELY. The Goldman Sachs Group boosted their price target on Remitly Global from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Barclays boosted their target price on shares of Remitly Global from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Monness Crespi & Hardt upped their target price on shares of Remitly Global from $30.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, May 8th. JMP Securities reiterated a "market outperform" rating and set a $32.00 price target on shares of Remitly Global in a research note on Thursday, April 10th. Finally, KeyCorp boosted their price objective on shares of Remitly Global from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Remitly Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.88.

About Remitly Global

Remitly Global, Inc provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 170 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.