Streetbeat News

RELY

Remitly Global, Inc.

https://www.remitly.com/us/en

Industry

Software - Infrastructure

Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.

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In the past three months, 8 analysts have rated Remitly Global (NASDAQ:RELY) with varying perspectives. The average 12-month price target is $20.88, down from $23.00. Analysts have adjusted ratings and price targets, reflecting mixed sentiments. Remitly Global has shown strong revenue growth but faces challenges in profitability and returns.

Portfolio Pulse from Benzinga Insights

August 20, 2024 | 4:00 pm

JP Morgan analyst Tien-Tsin Huang maintains an Overweight rating on Remitly Global and raises the price target from $19 to $21.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 2:49 pm

Monness, Crespi, Hardt maintains a Buy rating on Remitly Global (NASDAQ:RELY) and raises the price target from $29 to $30.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 5:09 pm

Remitly has revised its FY24 total revenue guidance from a range of $1.225 billion - $1.25 billion to $1.23 billion - $1.25 billion, with an estimated revenue of $1.238 billion.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 10:39 pm

Remitly has appointed Vikas Mehta as the new CFO, succeeding Hemanth Munipalli, effective August 19, 2024. Munipalli is leaving for family reasons and will oversee a smooth transition, staying with the company until September 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 10:01 pm

Remitly Global shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:58 pm

Remitly has revised its FY24 total revenue guidance to a range of $1.23B - $1.25B, slightly adjusting from the previous range of $1.225M - $1.25B. The company expects to remain in a GAAP net loss position for 2024 but has increased its Adjusted EBITDA outlook to $90M - $100M from the prior range of $85M - $95M.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:36 pm

Remitly Global (NASDAQ: RELY) reported Q2 2024 GAAP EPS of $(0.06), beating the $(0.11) estimate. Sales were $306.423M, surpassing the $302.314M estimate. This represents a 45.45% improvement in EPS and a 30.93% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:09 pm

Wells Fargo analyst Andrew Bauch maintains an Underweight rating on Remitly Global (NASDAQ:RELY) and lowers the price target from $15 to $13.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 4:17 pm

In the past three months, 10 analysts have provided ratings for Remitly Global (NASDAQ: RELY), ranging from bullish to bearish. The average 12-month price target has decreased by 15.16% to $20.7. Analysts have recently lowered their price targets, reflecting a cautious outlook. Despite a 32.01% revenue growth rate, Remitly Global faces challenges with profitability and returns.

Portfolio Pulse from Benzinga Insights

July 29, 2024 | 6:00 pm

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