Across the recent three months, 10 analysts have shared their insights on Remitly Global (NASDAQ:RELY), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 7 | 0 | 2 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 3 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 4 | 0 | 2 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $21.7, a high estimate of $32.00, and a low estimate of $15.00. Experiencing a 14.57% decline, the current average is now lower than the previous average price target of $25.40.
Understanding Analyst Ratings: A Comprehensive Breakdown
The standing of Remitly Global among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Will Nance | Goldman Sachs | Lowers | Buy | $20.00 | $23.00 |
| Ramsey El-Assal | Barclays | Lowers | Overweight | $16.00 | $20.00 |
| Rufus Hone | BMO Capital | Lowers | Outperform | $23.00 | $24.00 |
| David Scharf | JMP Securities | Lowers | Market Outperform | $22.00 | $32.00 |
| Ramsey El-Assal | Barclays | Lowers | Overweight | $20.00 | $25.00 |
| Tien-Tsin Huang | JP Morgan | Lowers | Overweight | $28.00 | $34.00 |
| Rufus Hone | BMO Capital | Lowers | Outperform | $24.00 | $28.00 |
| Andrew Bauch | Wells Fargo | Lowers | Underweight | $15.00 | $17.00 |
| Andrew Bauch | Wells Fargo | Lowers | Underweight | $17.00 | $19.00 |
| David Scharf | JMP Securities | Maintains | Market Outperform | $32.00 | $32.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Remitly Global. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Remitly Global compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Remitly Global's stock. This comparison reveals trends in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Remitly Global's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Remitly Global analyst ratings.
Get to Know Remitly Global Better
Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. The company's revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company's currency purchases.
Remitly Global's Financial Performance
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Remitly Global's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 32.01%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Remitly Global's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -7.83%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Remitly Global's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -3.91%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.99%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Remitly Global's debt-to-equity ratio is below the industry average at 0.3, reflecting a lower dependency on debt financing and a more conservative financial approach.
The Basics of Analyst Ratings
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.