Remitly Global, Inc. (NASDAQ:
RELY) is one of the
13 Best Revenue Growth Stocks to Buy Right Now.
On January 26, Cantor Fitzgerald initiated coverage of Remitly Global (NASDAQ:RELY) with an Overweight rating and $17 price target.
According to a research note from the investment bank, the company is poised to gain further market share in a highly fragmented, competitive landscape. The anticipated growth is also set against a backdrop of rising digital remittances, the note said. While recent stock performance reflects sentiment headwinds, Remitly’s fundamentals remain “quite strong,” with operating leverage expected to drive significant margin expansion, earnings growth, and free cash flow, according to the note.
Earlier this month, Wolfe Research analyst Darrin Peller maintained a Buy rating on Remitly Global and set a $16 price target.
As of February 2, Remitly Global, Inc. (RELY) is a consensus Buy with all 9 analysts covering it assigning a Buy rating. The company also appears to benefit from a strong outlook, as even the lowest analyst price target implies a 25% upside. Overall, the consensus 1-year median price target of $19.50 implies an over 88% upside.
Remitly Global, Inc. is a digital remittances financial technology company enabling fast, low-cost cross-border money transfers.
While we acknowledge the potential of RELY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the
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Disclosure: None. This article is originally published at
Insider Monkey.
