RemitlyRELY
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
28% more first-time investments, than exits
New positions opened: 41 | Existing positions closed: 32
25% more funds holding in top 10
Funds holding in top 10: 4 [Q2] → 5 (+1) [Q3]
3% more funds holding
Funds holding: 198 [Q2] → 203 (+5) [Q3]
4% more capital invested
Capital invested by funds: $2.06B [Q2] → $2.15B (+$88.9M) [Q3]
6.07% less ownership
Funds ownership: 88.32% [Q2] → 82.25% (-6.07%) [Q3]
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
Wells Fargo Andrew Bauch 74% 1-year accuracy 29 / 39 met price target | 9%downside $21 | Equal-Weight Maintained | 16 Jan 2025 |
Barclays Ramsey El-Assal 63% 1-year accuracy 32 / 51 met price target | 1%downside $23 | Overweight Maintained | 18 Nov 2024 |
Keybanc Josh Beck 82% 1-year accuracy 18 / 22 met price target | 9%downside $21 | Overweight Maintained | 31 Oct 2024 |
JMP Securities David Scharf 77% 1-year accuracy 37 / 48 met price target | 8%upside $25 | Market Outperform Maintained | 31 Oct 2024 |
Financial journalist opinion
