Remitly Global (NASDAQ:RELY) Given New $26.00 Price Target at Citizens Jmp

Remitly Global (NASDAQ:RELY) had its price objective raised by Citizens Jmp from $22.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target suggests a potential upside of 14.02% from the company’s current price.

Several other equities research analysts have also commented on the stock. Zacks Research lowered shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Citigroup restated an “outperform” rating on shares of Remitly Global in a research note on Thursday. Wall Street Zen lowered shares of Remitly Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Oppenheimer set a $20.00 price target on shares of Remitly Global in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $27.00 price target on shares of Remitly Global in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.44.

Remitly Global Stock Down 3.9%

Shares of RELY stock traded down $0.93 during trading hours on Thursday, hitting $22.80. 4,317,464 shares of the company were exchanged, compared to its average volume of 3,670,779. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.30 and a current ratio of 3.30. Remitly Global has a one year low of $12.08 and a one year high of $24.70. The business’s 50-day simple moving average is $17.69 and its two-hundred day simple moving average is $15.32. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 73.58, a P/E/G ratio of 0.84 and a beta of 0.40.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.11. The firm had revenue of $452.80 million for the quarter, compared to analyst estimates of $438.94 million. Remitly Global had a net margin of 4.15% and a return on equity of 8.87%. Remitly Global’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. Sell-side analysts predict that Remitly Global will post 0.51 EPS for the current fiscal year.

Insider Activity

In other Remitly Global news, Director Joshua Hug sold 16,800 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $21.56, for a total transaction of $362,208.00. Following the completion of the sale, the director directly owned 3,533,503 shares of the company’s stock, valued at approximately $76,182,324.68. This represents a 0.47% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ankur Sinha sold 9,741 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $16.94, for a total transaction of $165,012.54. Following the sale, the insider directly owned 1,180,119 shares of the company’s stock, valued at $19,991,215.86. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,163,520 shares of company stock valued at $194,773,102 in the last ninety days. 6.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Remitly Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in RELY. Torren Management LLC purchased a new position in Remitly Global during the 4th quarter worth approximately $25,000. Summit Securities Group LLC purchased a new position in Remitly Global during the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. purchased a new position in Remitly Global during the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew its position in Remitly Global by 280.2% during the 4th quarter. GAMMA Investing LLC now owns 2,209 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,628 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Remitly Global during the 3rd quarter worth approximately $33,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Remitly Global

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

• Positive Sentiment: Remitly reported a strong Q1: EPS $0.23 vs. $0.12 est., revenue $452.8M (+25% YoY), net income $49.1M and Adj. EBITDA $101.6M; the company raised its full‑year 2026 outlook, highlighting accelerating profitability. Remitly Reports Record First Quarter Results and Raises Full Year 2026 Outlook
• Positive Sentiment: Monness Crespi & Hardt raised their price target on RELY from $30 to $33 and reiterated a “buy” rating, implying meaningful upside from current levels — a catalyst for bullish investor interest.
• Positive Sentiment: New CEO Sebastian Gunningham is publicly outlining a growth opportunity in cross‑border payments and plans to expand Remitly’s addressable market, which supports a positive medium‑term growth narrative. Overcharged and Underserved: Remitly’s New CEO Sees a Big Opening in Cross-Border Payments
• Neutral Sentiment: Full earnings materials and the Q1 earnings call transcript are available for deeper review; they provide management detail on guidance and margin drivers but contain no surprising adjustments beyond the published beat-and-raise. RELY Q1 2026 Earnings Call Transcript
• Negative Sentiment: Incumbent competitors are making strategic moves (e.g., Western Union exploring a Solana-based stablecoin) that could pressure pricing or market share in cross‑border payments — a potential longer‑term headwind for Remitly. Old Money, New Tech: Western Union’s Crypto Reboot (RELY)

About Remitly Global

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.