JMP Securities Sticks to Its Buy Rating for Remitly Global (RELY) | Markets Insider
In a report released today, David Scharf from JMP Securities maintained a Buy rating on Remitly Global (RELY – Research Report), with a price target of $32.00. The company’s shares closed yesterday at $25.91.
According to TipRanks, Scharf is a 5-star analyst with an average return of 18.3% and a 56.33% success rate. Scharf covers the Financial sector, focusing on stocks such as Bread Financial Holdings, Pra Group, and Synchrony Financial.
Currently, the analyst consensus on Remitly Global is a Strong Buy with an average price target of $27.57, implying a 6.41% upside from current levels. In a report released on February 13, Monness also maintained a Buy rating on the stock with a $35.00 price target.
RELY market cap is currently $5.24B and has a P/E ratio of -73.59.
Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RELY in relation to earlier this year. Most recently, in November 2024, Ankur Sinha, the Chief Product and Tech Officer of RELY sold 9,500.00 shares for a total of $195,130.00.
