Remitly (RELY)

• Market cap: $4.79B
• 1 day: -7.48%
• 5 days: -9.42%
• 1 month: 3.11%
• 3 months: 15.38%
• 6 months: 67.67%
• Year to date: 6.52%
• 1 year: 34.88%
• 5 years: -50.75%
• 10 years: -50.75%
• 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: 2,800

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

109% more first-time investments, than exits

New positions opened: 67 | Existing positions closed: 32

96% more repeat investments, than reductions

Existing positions increased: 94 | Existing positions reduced: 48

77% more call options, than puts

Call options by funds: $17.2M | Put options by funds: $9.72M

68% more capital invested

Capital invested by funds: $2.15B [Q3] → $3.6B (+$1.45B) [Q4]

15% more funds holding

Funds holding: 203 [Q3] → 234 (+31) [Q4]

0% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 5 (+0) [Q4]

1.65% less ownership

Funds ownership: 82.25% [Q3] → 80.6% (-1.65%) [Q4]

Research analyst outlook

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

• Low target: $25 5% upside
• Avg. target: $29 22% upside
• High target: $33 38% upside

5 analyst ratings

• positive: 4 80%
• neutral: 1 20%
• negative: 0 0%

JP Morgan Tien-Tsin Huang 69% 1-year accuracy 69 / 100 met price target	26% upside $30	Overweight Maintained	20 Feb 2025
Goldman Sachs Will Nance 70% 1-year accuracy 28 / 40 met price target	38% upside $33	Buy Maintained	20 Feb 2025
BMO Capital Rufus Hone 83% 1-year accuracy 20 / 24 met price target	34% upside $32	Outperform Maintained	20 Feb 2025
Wells Fargo Andrew Bauch 76% 1-year accuracy 28 / 37 met price target	5% upside $25	Equal-Weight Maintained	20 Feb 2025
Barclays Ramsey El-Assal 70% 1-year accuracy 40 / 57 met price target	9% upside $26	Overweight Maintained	3 Feb 2025