Barclays Reaffirms Their Buy Rating on Remitly Global (RELY)

In a report released on September 23, Ramsey El Assal from Barclays maintained a Buy rating on Remitly Global (RELYResearch Report), with a price target of $12.00. The company’s shares closed last Friday at $10.00.

El Assal covers the Services sector, focusing on stocks such as Fleetcor Technologies, Paypal Holdings, and Green Dot. According to TipRanks, El Assal has an average return of -1.5% and a 43.88% success rate on recommended stocks.

Currently, the analyst consensus on Remitly Global is a Strong Buy with an average price target of $14.40.

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The company has a one-year high of $42.81 and a one-year low of $6.66. Currently, Remitly Global has an average volume of 1.03M.

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Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. Its revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company’s currency purchases.

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