Remitly Global stock price target raised to $28 from $27 at KeyBanc

Published 07/08/2025, 14:46
Remitly Global stock price target raised to $28 from $27 at KeyBanc

Investing.com - KeyBanc raised its price target on Remitly Global Inc (NASDAQ:RELY) to $28.00 from $27.00 on Thursday, while maintaining an Overweight rating on the digital remittance company. The company, with a market capitalization of $3.36 billion, has demonstrated strong financial health according to InvestingPro data.

The price target increase follows Remitly’s solid quarterly results and raised guidance for fiscal year 2025 that exceeded the upside seen in the quarter. With impressive revenue growth of 35% in the last twelve months and a healthy current ratio of 2.85, the company has shown strong operational execution. KeyBanc highlighted the company’s increasing platform potential through several product innovations including Remitly One, a multi-currency wallet offering, and Remitly Business.

KeyBanc noted that while these new initiatives are still in early stages, with Business launched earlier this year and other updates planned for September 2025, they represent significant opportunities for Remitly to expand its total addressable market, strengthen unit economics, and provide more utility for customers. For deeper insights into Remitly’s growth potential and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.

The firm adjusted its fiscal year 2025 estimates upward based on the second-quarter performance and revised guidance from Remitly. For fiscal year 2026, KeyBanc increased revenue projections based on growth opportunities from larger retail senders and expected traction with Remitly Business.

KeyBanc maintained that while these new products and customer segments will require investment, the company’s focus on incremental gross profit dollars should extend its growth runway and improve unit economics to better support long-term margins.

In other recent news, Remitly Global Inc. reported its second-quarter earnings for 2025, showcasing a mixed performance. The company experienced a significant miss on earnings per share (EPS), reporting $0.03 compared to the expected $0.19, which represents an 84.21% negative surprise. However, Remitly exceeded revenue forecasts, generating $411.9 million, a 6.88% increase above expectations, driven by a 34% year-over-year growth. This revenue performance highlights the company’s ability to maintain strong sales momentum despite challenges in meeting EPS projections. No mergers or acquisitions were reported in the recent developments for Remitly. Analyst firms have not provided any recent upgrades or downgrades regarding Remitly’s stock. These developments underscore the varied aspects of Remitly’s financial performance.

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