William Blair Predicts Increased Earnings for Remitly Global

Remitly Global, Inc. (NASDAQ:RELY - Free Report) - Research analysts at William Blair boosted their Q2 2025 EPS estimates for Remitly Global in a report released on Thursday, May 8th. William Blair analyst C. Kennedy now expects that the financial services provider will earn $0.01 per share for the quarter, up from their prior forecast of ($0.02). William Blair has a "Outperform" rating on the stock. The consensus estimate for Remitly Global's current full-year earnings is ($0.04) per share. William Blair also issued estimates for Remitly Global's FY2025 earnings at $0.11 EPS.

A number of other brokerages have also issued reports on RELY. BMO Capital Markets boosted their target price on shares of Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. KeyCorp 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 note on Thursday, May 8th. Wells Fargo & Company boosted their target price 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. Finally, Monness Crespi & Hardt raised their price objective on Remitly Global from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.88.

Remitly Global Stock Down 1.1%

Remitly Global stock traded down $0.27 during midday trading on Monday, reaching $24.22. The stock had a trading volume of 2,276,131 shares, compared to its average volume of 2,006,881. Remitly Global has a 52-week low of $11.60 and a 52-week high of $27.32. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -127.47 and a beta of 0.16. The company has a fifty day moving average of $20.47 and a 200 day moving average of $21.59.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.09. The firm had revenue of $361.62 million during the quarter, compared to analysts' expectations of $347.81 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The company's quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS.

Institutional Investors Weigh In On Remitly Global

Hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in Remitly Global by 10.4% in the fourth quarter. Stifel Financial Corp now owns 57,146 shares of the financial services provider's stock valued at $1,290,000 after purchasing an additional 5,390 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Remitly Global during the 4th quarter valued at approximately $1,228,000. DHK Financial Advisors Inc. purchased a new position in shares of Remitly Global during the 4th quarter valued at approximately $273,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Remitly Global by 8.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 606,500 shares of the financial services provider's stock valued at $13,689,000 after purchasing an additional 49,200 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Remitly Global by 3.6% during the 4th quarter. Bank of Montreal Can now owns 41,271 shares of the financial services provider's stock valued at $931,000 after purchasing an additional 1,435 shares in the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.31, for a total transaction of $281,597.73. Following the completion of the sale, the chief executive officer now owns 4,329,513 shares of the company's stock, valued at $83,602,896.03. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ankur Sinha sold 5,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.01, for a total transaction of $95,050.00. Following the completion of the sale, the insider now directly owns 397,805 shares in the company, valued at approximately $7,562,273.05. The trade was a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,301 shares of company stock worth $1,560,012. Insiders own 7.50% of the company's stock.

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.