Brokers Offer Predictions for Remitly Global FY2025 Earnings

Key Points

• William Blair has raised its FY2025 earnings per share (EPS) estimate for Remitly Global from $0.11 to $0.13, indicating a more positive outlook for the company.
• Despite missing the consensus EPS estimate in their latest earnings report, Remitly Global's revenue increased by 34.4% year-over-year to $411.85 million.
• The stock has received multiple price target upgrades from various analysts, with an average target now at $29.00 and an overall rating of "Moderate Buy."

Remitly Global, Inc. (NASDAQ:RELY - Free Report) - Research analysts at William Blair boosted their FY2025 earnings per share estimates for shares of Remitly Global in a report released on Thursday, August 7th. William Blair analyst C. Kennedy now expects that the financial services provider will earn $0.13 per share for the year, up from their previous forecast of $0.11. 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 FY2026 earnings at $0.34 EPS.

A number of other analysts also recently commented on the company. Monness Crespi & Hardt increased their price target on Remitly Global from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price target on Remitly Global from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Remitly Global from a "buy" rating to a "hold" rating in a report on Saturday. KeyCorp reissued an "overweight" rating and issued a $28.00 target price (up from $27.00) on shares of Remitly Global in a research note on Thursday. Finally, Barclays lifted their price objective on Remitly Global from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

Remitly Global Stock Performance

Shares of Remitly Global stock traded up $0.05 on Friday, hitting $19.00. The company had a trading volume of 7,517,332 shares, compared to its average volume of 4,996,726. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 271.43 and a beta of 0.12. Remitly Global has a 1 year low of $12.43 and a 1 year high of $27.32. The stock has a 50 day moving average of $18.61 and a 200-day moving average of $20.84.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.14). The firm had revenue of $411.85 million for the quarter, compared to analyst estimates of $384.59 million. Remitly Global had a return on equity of 2.31% and a net margin of 0.96%. The firm's quarterly revenue was up 34.4% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share.

Hedge Funds Weigh In On Remitly Global

Hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in Remitly Global during the 1st quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Remitly Global during the 1st quarter valued at $41,000. Exchange Traded Concepts LLC purchased a new stake in Remitly Global during the 1st quarter valued at $46,000. Caitong International Asset Management Co. Ltd purchased a new stake in Remitly Global during the 1st quarter valued at $66,000. Finally, Flaharty Asset Management LLC purchased a new stake in Remitly Global during the 1st quarter valued at $94,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Phillip John Riese sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $20.34, for a total value of $101,700.00. Following the completion of the transaction, the director directly owned 102,257 shares in the company, valued at $2,079,907.38. The trade was a 4.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ltd Naspers sold 11,900,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $22.89, for a total transaction of $272,391,000.00. Following the completion of the transaction, the insider owned 25,441,745 shares of the company's stock, valued at approximately $582,361,543.05. The trade was a 31.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,041,833 shares of company stock worth $275,390,023 over the last 90 days. 8.10% of the stock is currently owned by company insiders.

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.