KeyBanc has revised its price target for Remitly Global (RELY, Financial), bringing it down from $33 to $24, while maintaining an Overweight rating. This adjustment comes as the firm evaluates its projections and pricing for various companies in anticipation of their first-quarter financial reports. The review reflects a strategy focused on managing the uncertainties that could affect business performance throughout the year. KeyBanc emphasized a cautious approach in assessing the financial outlook amid this environment of uncertainty.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Remitly Global Inc (RELY, Financial) is $28.50 with a high estimate of $33.00 and a low estimate of $23.00. The average target implies an upside of 47.29% from the current price of $19.35. More detailed estimate data can be found on the Remitly Global Inc (RELY) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Remitly Global Inc's (RELY, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Remitly Global Inc (RELY, Financial) in one year is $28.18, suggesting a upside of 45.63% from the current price of $19.35. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Remitly Global Inc (RELY) Summary page.
