FY2025 EPS Estimates for Remitly Global Increased by Analyst

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) - William Blair boosted their FY2025 earnings per share (EPS) estimates for Remitly Global in a research report issued to clients and investors on Thursday, August 7th. William Blair analyst C. Kennedy now expects that the financial services provider will post earnings per share of $0.13 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.

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

RELY has been the topic of a number of other reports. Wall Street Zen cut Remitly Global from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays boosted 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. Monness Crespi & Hardt increased their target price 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 upped their price objective on shares of Remitly Global from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $28.00 price objective (up from $27.00) on shares of Remitly Global in a report on Thursday, August 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Remitly Global has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

Remitly Global Price Performance

RELY stock traded up $0.40 during midday trading on Friday, hitting $19.40. 1,902,395 shares of the stock traded hands, compared to its average volume of 2,935,201. Remitly Global has a 1-year low of $12.43 and a 1-year high of $27.32. The stock's fifty day simple moving average is $18.56 and its 200-day simple moving average is $20.81. The firm has a market cap of $4.00 billion, a P/E ratio of 325.64 and a beta of 0.12.

Insider Activity at Remitly Global

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $17.28, for a total value of $251,994.24. Following the completion of the sale, the chief executive officer directly owned 4,212,849 shares in the company, valued at $72,798,030.72. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip John Riese sold 5,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $20.34, for a total transaction of $101,700.00. Following the transaction, the director owned 102,257 shares in the company, valued at $2,079,907.38. The trade was a 4.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,041,833 shares of company stock worth $275,390,023 over the last 90 days. Corporate insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Remitly Global

A number of large investors have recently made changes to their positions in the stock. Stifel Financial Corp boosted its stake in Remitly Global by 10.4% during the fourth quarter. Stifel Financial Corp now owns 57,146 shares of the financial services provider's stock worth $1,290,000 after buying an additional 5,390 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Remitly Global during the 1st quarter worth $1,231,000. Bank of Montreal Can boosted its position 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 acquiring an additional 1,435 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Remitly Global by 53.1% in the fourth quarter. Wells Fargo & Company MN now owns 70,777 shares of the financial services provider's stock valued at $1,597,000 after purchasing an additional 24,559 shares during the period. Finally, KBC Group NV grew its holdings in shares of Remitly Global by 29.8% in the first quarter. KBC Group NV now owns 7,944 shares of the financial services provider's stock valued at $165,000 after purchasing an additional 1,823 shares during the period. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

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.