German construction sector still in recession, civil engineering only bright spot
Investing.com - Wolfe Research upgraded Remitly Global Inc (NASDAQ:RELY) from Peerperform to Outperform on Tuesday, setting a price target of $25.00. The digital payments company, currently valued at $4.1 billion, has demonstrated strong financial health with revenue growing 35% year-over-year and maintaining a solid liquidity position with a current ratio of 2.85.
The upgrade reflects Remitly’s strong positioning to capitalize on secular trends in digital money transfer and financial services, which Wolfe Research believes will enable the company to continue taking market share from traditional retail-driven providers. According to InvestingPro data, the company’s robust financial performance and positive net income expectations support this optimistic outlook.
Wolfe Research noted that as average industry prices for digital transfers drop below 3-4%, customers may become less price-sensitive and place greater emphasis on reliability, user experience, and convenience—areas where Remitly demonstrates strength.
The firm highlighted Remitly’s partnerships that address cash payout needs at disbursement points, which signal the company’s technological and software leadership, particularly in underdeveloped financial markets serving migrant communities.
According to Wolfe Research’s analysis of Apptopia download data, Remitly has significantly increased its U.S. market share, accounting for approximately 35% of U.S. downloads over the past twelve months compared to just 9% pre-pandemic. Want deeper insights into Remitly’s growth potential? InvestingPro offers exclusive analysis and 7 additional ProTips for this fintech leader, available in the comprehensive Pro Research Report.
In other recent news, Remitly Global Inc. reported its second-quarter earnings for 2025, revealing a significant miss on earnings per share (EPS) expectations. The company’s EPS was $0.03, falling short of the anticipated $0.19, which represents an 84.21% negative surprise. However, Remitly’s revenue performance was more favorable, with the company reporting $411.9 million, surpassing expectations by 6.88% and showing a 34% increase from the previous year. Additionally, KeyBanc raised its price target for Remitly Global to $28 from $27, maintaining an Overweight rating. This adjustment was attributed to Remitly’s solid quarterly results and the raised guidance for fiscal year 2025. KeyBanc also noted the company’s growing platform potential through product innovations such as Remitly One and Remitly Business. These developments reflect the company’s ongoing efforts to enhance its offerings and capture a larger market share.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.