Q2 EPS Estimates for Remitly Global Boosted by William Blair

Remitly Global, Inc. (NASDAQ:RELY) – Analysts at William Blair lifted their Q2 2025 earnings estimates for shares of Remitly Global in a report released on Thursday, May 8th. William Blair analyst C. Kennedy now forecasts that the financial services provider will post earnings per share of $0.01 for the quarter, up from their prior forecast of ($0.02). William Blair currently has a “Outperform” rating on the stock. 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 FY2025 earnings at $0.11 EPS.

Remitly Global (NASDAQ:RELY) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $361.62 million during the quarter, compared to analysts’ expectations of $347.81 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. The firm’s revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) EPS.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company raised their price objective on Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Remitly Global from $21.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. 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. BMO Capital Markets boosted their price target on shares of Remitly Global from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, KeyCorp increased their price objective on shares of Remitly Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Remitly Global presently has an average rating of “Moderate Buy” and an average price target of $28.88.

Remitly Global Trading Down 1.1%

Shares of NASDAQ:RELY opened at $24.22 on Monday. The firm has a market cap of $4.94 billion, a PE ratio of -127.47 and a beta of 0.16. Remitly Global has a 12-month low of $11.60 and a 12-month high of $27.32. The company has a fifty day simple moving average of $20.47 and a 200 day simple moving average of $21.59.

Insider Activity at Remitly Global

In other Remitly Global news, insider Joshua Hug sold 37,718 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $793,963.90. Following the sale, the insider now directly owns 3,776,093 shares of the company’s stock, valued at $79,486,757.65. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ankur Sinha sold 5,000 shares of Remitly Global stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. Following the transaction, the insider now directly owns 397,805 shares in the company, valued at approximately $7,562,273.05. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,301 shares of company stock valued at $1,560,012 over the last ninety days. Insiders own 7.50% of the company’s stock.

Institutional Trading of Remitly Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Remitly Global during the 4th quarter worth about $28,000. Elequin Capital LP acquired a new position in Remitly Global in the first quarter worth approximately $30,000. Exchange Traded Concepts LLC bought a new position in Remitly Global during the first quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd bought a new stake in Remitly Global in the first quarter worth approximately $66,000. Finally, R Squared Ltd bought a new stake in Remitly Global in the fourth quarter worth approximately $89,000. 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.