J.P. Morgan Maintained a Buy Rating on Remitly Global (RELY), Kept the PT Unchanged

Remitly Global, Inc. (NASDAQ:RELY) is one of the Best Tech Stocks to Buy Under $20. On July 17, J.P. Morgan analyst Tien Tsin Huang maintained a Buy rating on Remitly Global, Inc. (NASDAQ:RELY) with a price target of $25.

The positive sentiment comes as the company approaches its fiscal second-quarter earnings call for 2025. The company is expected to release its second-quarter results on August 6. Remitly Global, Inc. (NASDAQ:RELY) beat expectations during the fiscal first quarter 2025 results. It delivered $361.62 million in revenue, reflecting a 34.37% increase year-over-year and ahead of consensus by $14.15 million. Moreover, the EPS of $0.19 also exceeded expectations by $0.02. Management noted that the outperformance was driven by a 29% increase in active customers.

J.P. Morgan Maintained a Buy Rating on Remitly Global (RELY), Kept the PT Unchanged

A senior banker shaking hands with migrant customers in a corporate boardroom.

Looking ahead, Remitly Global, Inc. (NASDAQ:RELY) expects second-quarter revenue in the range of $383 million to $385 million, reflecting a 25% to 26% year-over-year growth.

Remitly Global, Inc. (NASDAQ:RELY) provides digital financial services for sending money across borders in over 170 countries.

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