Wall Street Analysts Believe Remitly Global (RELY) Could Rally 42.31%: Here's is How to Trade

Core Viewpoint - Remitly Global, Inc. (RELY) shows significant upside potential with a mean price target of $27.11, indicating a 42.3% increase from the current trading price of $19.05 [1] Price Targets and Analyst Estimates - The mean estimate consists of nine short-term price targets with a standard deviation of $3.48, suggesting a consensus among analysts [2] - The lowest estimate is $21.00, indicating a 10.2% increase, while the highest estimate is $32.00, representing a 68% surge [2] - Analysts' price targets can be misleading, as empirical research shows they rarely indicate actual stock price movements [7][10] Earnings Estimates and Analyst Agreement - Analysts are optimistic about RELY's earnings prospects, with a strong agreement in revising EPS estimates higher, which correlates with potential stock price increases [11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 33.3%, with two estimates moving higher and no negative revisions [12] Zacks Rank and Investment Potential - RELY holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not reliably indicate the extent of potential gains, they do suggest a positive direction for price movement [14]