Remitly Global (NASDAQ:RELY) Given New $22.00 Price Target at Citizens Jmp

Remitly Global (NASDAQ:RELY) had its target price hoisted by Citizens Jmp from $20.00 to $22.00 in a research report report published on Thursday,Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Zacks Research raised Remitly Global from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Bank of America started coverage on shares of Remitly Global in a report on Tuesday, February 10th. They issued a “buy” rating and a $18.00 target price for the company. Monness Crespi & Hardt reduced their price target on shares of Remitly Global from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Remitly Global in a research note on Monday, December 29th. Finally, Citigroup reiterated an “outperform” rating on shares of Remitly Global in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.44.

Remitly Global Stock Performance

Shares of NASDAQ:RELY opened at $17.14 on Thursday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 55.29 and a beta of 0.11. Remitly Global has a 1-year low of $12.08 and a 1-year high of $27.27. The company has a 50 day moving average price of $13.77 and a 200 day moving average price of $15.35.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.17. The company had revenue of $442.18 million for the quarter, compared to analysts’ expectations of $427.27 million. Remitly Global had a return on equity of 9.18% and a net margin of 4.15%.The firm’s revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, sell-side analysts expect that Remitly Global will post -0.04 EPS for the current fiscal year.

Insider Activity

In related news, insider Pankaj Sharma sold 3,000 shares of Remitly Global stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the sale, the insider directly owned 220,830 shares of the company’s stock, valued at $3,312,450. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ryno Blignaut sold 4,500 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $13.25, for a total value of $59,625.00. Following the completion of the transaction, the director owned 41,576 shares of the company’s stock, valued at $550,882. The trade was a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 54,776 shares of company stock valued at $733,574. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Remitly Global

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in Remitly Global by 0.5% in the second quarter. California State Teachers Retirement System now owns 135,843 shares of the financial services provider’s stock worth $2,550,000 after purchasing an additional 679 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Remitly Global by 29.9% in the third quarter. Exchange Traded Concepts LLC now owns 3,098 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 714 shares in the last quarter. Main Management ETF Advisors LLC raised its position in Remitly Global by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 96,309 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 984 shares during the last quarter. Xponance Inc. raised its position in Remitly Global by 8.7% in the 3rd quarter. Xponance Inc. now owns 13,291 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 1,060 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Remitly Global by 34.4% during the 3rd quarter. AlphaQuest LLC now owns 4,359 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,115 shares in the last quarter. 74.25% of the stock is currently owned by institutional investors.

Key Remitly Global News

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Q4 beat: Remitly reported Q4 EPS of $0.19 vs. a $0.02 consensus and revenue of $442.2M (up 25.7% YoY), showing clear recovery in profitability and top-line momentum. Remitly Q4 Results
• Positive Sentiment: Raised guidance: Management updated FY‑2026 and Q1‑2026 revenue guidance (FY revenue ~$1.9–$2.0B; Q1 revenue $436–$438M), above recent consensus, which supports the rally. Earnings Press Release / Slides
• Positive Sentiment: Analyst lift: Citizens Jmp raised its price target to $22 and kept a “market outperform” rating, signaling more analyst conviction and providing visible upside for investors. Citizens JMP Price Target Raise
• Neutral Sentiment: Leadership change: Remitly named Sebastian J. Gunningham as CEO — a material governance event that could be positive long term but creates short-term execution uncertainty until the new CEO’s strategy is clear. CEO Appointment
• Negative Sentiment: Insider selling: A company director sold 4,500 shares (disclosed filing), a small transaction that may attract attention but appears immaterial to company fundamentals. SEC Filing — Insider Sale

Remitly Global Company Profile

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.