William Blair analyst Christopher Kennedy has reiterated their bullish stance on RELY stock, giving a Buy rating on August 5.
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Christopher Kennedy has given his Buy rating due to a combination of factors that highlight Remitly Global’s promising growth potential and financial performance. The company is still in the early stages of its growth journey, with significant opportunities for margin expansion. Kennedy has increased the 2025 and 2026 adjusted EBITDA estimates, reflecting confidence in the company’s financial trajectory. Additionally, the board’s authorization of a $200 million share repurchase program indicates a strong commitment to enhancing shareholder value.
Despite some investor concerns about external factors such as immigration policy and competition, Remitly’s financial performance has been robust. The company’s revenue and adjusted EBITDA for the June quarter exceeded expectations, and management has raised future guidance. Remitly’s ability to gain market share in the $2 trillion global remittance market, along with its expansion into new markets and innovative offerings, supports the Buy rating. The company’s digital focus and strategic initiatives position it well to capture a larger share of the remittance and broader financial services market.
In another report released on August 5, Monness also reiterated a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 105 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RELY in relation to earlier this year.