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

Remitly Global (NASDAQ:RELY - Get Free Report) will likely be announcing its Q1 2025 earnings results after the market closes on Wednesday, May 7th. Analysts expect the company to announce earnings of ($0.04) per share and revenue of $347.81 million for the quarter. Remitly Global has set its Q1 2025 guidance at EPS and its FY 2025 guidance at EPS.

Remitly Global (NASDAQ:RELY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.04. The company had revenue of $351.90 million for the quarter, compared to analyst estimates of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. 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 stock remained flat at $20.94 on Monday. The stock had a trading volume of 721,757 shares, compared to its average volume of 1,964,382. The company's fifty day moving average price is $20.55 and its 200-day moving average price is $21.25. Remitly Global has a 12 month low of $11.60 and a 12 month high of $27.32. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -110.00 and a beta of 0.15.

Insiders Place Their Bets

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $25.21, for a total transaction of $367,637.43. Following the sale, the chief executive officer now directly owns 4,358,679 shares in the company, valued at approximately $109,882,297.59. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joshua Hug sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $19.71, for a total transaction of $197,100.00. Following the transaction, the insider now directly owns 3,823,811 shares of the company's stock, valued at $75,367,314.81. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,166 shares of company stock worth $1,133,685. 8.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RELY has been the subject of several analyst reports. William Blair reiterated an "outperform" rating on shares of Remitly Global in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on shares of Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company boosted their price objective on shares of Remitly Global from $21.00 to $25.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Barclays upped their price target on shares of Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Finally, BMO Capital Markets upped their target price on Remitly Global from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.50.

Remitly Global Company Profile

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.