Fintel reports that on February 22, 2024, BMO Capital upgraded their outlook for Remitly Global (NasdaqGS:RELY) from Market Perform to Outperform .
Analyst Price Forecast Suggests 56.40% Upside
As of January 20, 2024, the average one-year price target for Remitly Global is 27.67. The forecasts range from a low of 16.16 to a high of $35.70. The average price target represents an increase of 56.40% from its latest reported closing price of 17.69.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Remitly Global is 1,092MM, an increase of 15.64%. The projected annual non-GAAP EPS is -0.42.
What is the Fund Sentiment?
There are 432 funds or institutions reporting positions in Remitly Global. This is an increase of 25 owner(s) or 6.14% in the last quarter. Average portfolio weight of all funds dedicated to RELY is 0.47%, an increase of 28.56%. Total shares owned by institutions increased in the last three months by 6.81% to 162,506K shares. 
The put/call ratio of RELY is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
Naspers holds 37,342K shares representing 20.17% ownership of the company. No change in the last quarter.
Baillie Gifford holds 11,131K shares representing 6.01% ownership of the company. In it's prior filing, the firm reported owning 6,074K shares, representing an increase of 45.44%.
Jpmorgan Chase holds 8,891K shares representing 4.80% ownership of the company. In it's prior filing, the firm reported owning 9,689K shares, representing a decrease of 8.97%.
Generation Investment Management Llp holds 7,692K shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 7,992K shares, representing a decrease of 3.90%.
Wellington Management Group Llp holds 5,158K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 4,199K shares, representing an increase of 18.59%.
Remitly Global Background Information
(This description is provided by the company.)
Remitly is a leading digital financial services provider for immigrants and their families in over 135 countries around the world. Its vision is to transform the lives of immigrants and their families by providing the most trusted financial services on the planet. Through its cross-border remittances, Remitly helps immigrants ??send money home in a safe, reliable, and transparent manner via its digitally-native app, which eliminates the long wait times, complexities and fees typical of traditional remittance processes. Passbook by Remitly, a money management app specifically designed for immigrants in the United States, eliminates fees and other common barriers to storing, spending, and sending money. Remitly for Developers allows companies to offer locally relevant payout options to customers with a simple API integration. Remitly is headquartered in Seattle and has offices around the world, including London, Kraków, Manila and Managua.
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