Citizens JMP Keeps Market Outperform Rating on Remitly (RELY)

Remitly Global, Inc. (NASDAQ:RELY) is one of the 12 Best Fintech Stocks to Buy According to Analysts. On October 1, Citizens JMP reaffirmed its Market Outperform on Remitly Global, Inc. (NASDAQ:RELY) with a price target of $23.

The firm sees Remitly Global, Inc. (NASDAQ:RELY) as “one of the strongest secular growth vehicles in FinTech.” Citizens JMP also pointed out that the company’s business has grown “more quickly and more profitably than many had anticipated.”

The price target of $23 is about 15 times the firm’s estimated adjusted EBITDA for Remitly Global, Inc. (NASDAQ:RELY) in 2026.

Remitly Global, Inc. (NASDAQ:RELY) is a financial technology and payments company that provides digital financial services with its cross-border payments app that facilitates money transfers in more than 170 countries around the world.

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Disclosure: None. This article is originally published at Insider Monkey.