Remitly (RELY)

• Market cap: $4.48B
• 1 day: 4.63%
• 5 days: 9.28%
• 1 month: 10.51%
• 3 months: 60.01%
• 6 months: 94.75%
• Year to date: 19.00%
• 1 year: 25.33%
• 5 years: -53.33%
• 10 years: -53.33%
• Sector: Industrials
• Industry: Business Services

About: 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.

Employees: 2,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

110% more call options, than puts

Call options by funds: $6.96M | Put options by funds: $3.32M

57% more repeat investments, than reductions

Existing positions increased: 83 | Existing positions reduced: 53

25% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 5 (+1) [Q3]

14% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 36

5% more capital invested

Capital invested by funds: $1.99B [Q2] → $2.09B (+$101M) [Q3]

3% more funds holding

Funds holding: 198 [Q2] → 203 (+5) [Q3]

5.25% less ownership

Funds ownership: 85.14% [Q2] → 79.89% (-5.25%) [Q3]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $18 20% downside
• Avg. target: $22 4% downside
• High target: $25 11% upside

4 analyst ratings

• positive: 3 75%
• neutral: 1 25%
• negative: 0 0%

Barclays Ramsey El-Assal 67% 1-year accuracy 37 / 55 met price target	2% upside $23	Overweight Maintained	18 Nov 2024
Keybanc Josh Beck 88% 1-year accuracy 21 / 24 met price target	7% downside $21	Overweight Maintained	31 Oct 2024
JMP Securities David Scharf 83% 1-year accuracy 43 / 52 met price target	11% upside $25	Market Outperform Maintained	31 Oct 2024
Wells Fargo Andrew Bauch 73% 1-year accuracy 24 / 33 met price target	20% downside $18	Equal-Weight Upgraded	31 Oct 2024