Remitly Global (NASDAQ:RELY) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Remitly Global (NASDAQ:RELY) posted its quarterly earnings data on Wednesday. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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 %

Remitly Global stock opened at $25.91 on Thursday. The stock has a 50-day simple moving average of $23.49 and a 200 day simple moving average of $18.55. Remitly Global has a 52 week low of $11.60 and a 52 week high of $27.32.

Insider Buying and Selling at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $20.86, for a total value of $304,201.38. Following the transaction, the chief executive officer now owns 4,417,011 shares in the company, valued at approximately $92,138,849.46. This represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua Hug sold 22,198 shares of the stock in a transaction dated 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 in the company, valued at approximately $79,877,982.82. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,947 shares of company stock worth $1,467,012 over the last 90 days. Company insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on RELY shares. Wells Fargo & Company lifted their price objective on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. KeyCorp upped their price objective on shares of Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Barclays increased their price target on Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, JMP Securities raised their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. 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 has an average rating of “Moderate Buy” and an average price target of $23.75.

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.