Remitly Global (NASDAQ:RELY) Issues Quarterly Earnings Results

Remitly Global (NASDAQ:RELY) posted its earnings results on Wednesday. The financial services provider reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04, Zacks reports. Remitly Global had a negative return on equity of 11.58% and a negative net margin of 5.63%. Remitly Global updated its Q1 2025 guidance to EPS and its FY 2025 guidance to EPS.

Remitly Global Trading Down 2.1 %

Shares of RELY opened at $25.91 on Thursday. Remitly Global has a 52-week low of $11.60 and a 52-week high of $27.32. The business’s fifty day moving average is $23.49 and its 200-day moving average is $18.55.

Wall Street Analyst Weigh In

RELY has been the subject of several analyst reports. KeyCorp lifted their price objective on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Barclays boosted their price target on Remitly Global from $23.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, JMP Securities upped their target price on Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Insider Buying and Selling

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $20.86, for a total transaction of $304,201.38. Following the sale, the chief executive officer now directly owns 4,417,011 shares of the company’s stock, valued at approximately $92,138,849.46. The trade was a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joshua Hug sold 22,198 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total transaction of $457,722.76. Following the completion of the transaction, the insider now directly owns 3,873,811 shares of the company’s stock, valued at approximately $79,877,982.82. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,947 shares of company stock worth $1,467,012 in the last ninety days. 8.10% of the stock is owned by insiders.

About Remitly Global

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.