In the latest quarter, 9 analysts provided ratings for Remitly Global (NASDAQ:RELY), showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 5 | 0 | 3 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 3 | 0 | 2 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 1 | 0 | 1 | 0 |
Analysts have recently evaluated Remitly Global and provided 12-month price targets. The average target is $23.56, accompanied by a high estimate of $32.00 and a low estimate of $15.00. This upward trend is apparent, with the current average reflecting a 1.16% increase from the previous average price target of $23.29.
Deciphering Analyst Ratings: An In-Depth Analysis
In examining recent analyst actions, we gain insights into how financial experts perceive Remitly Global. The following summary 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 |
|---|---|---|---|---|---|
| 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 | - |
| Gus Gala | Monness, Crespi, Hardt | Announces | Buy | $29.00 | - |
| Andrew Bauch | Wells Fargo | Raises | Underweight | $19.00 | $16.00 |
| Rufus Hone | BMO Capital | Raises | Outperform | $28.00 | $24.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Remitly Global. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Remitly Global compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Remitly Global's stock. This comparison reveals trends in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Remitly Global's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Remitly Global analyst ratings.
About Remitly Global
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.
Financial Milestones: Remitly Global's Journey
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Remitly Global's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 38.59%. 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 lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -13.23%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -6.64%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -3.75%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.27.
The Basics of Analyst Ratings
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.