Remitly Global (RELY) Has a Healthy Upside Despite Downward Target Price Revisions

Core Insights - Remitly Global, Inc. (NASDAQ:RELY) is identified as one of the 15 software stocks with significant upside potential, with analysts adjusting price targets while maintaining a Buy rating [1][2] Analyst Ratings - Wolfe Research analyst Darrin Peller lowered the price target for Remitly from $18 to $16, indicating a 19.4% upside from current levels as of January 9 [1] - Goldman Sachs analyst Will Nance reduced the price target from $19 to $17, suggesting a further 27% upside, while also maintaining a Buy rating [2] Company Outlook - Remitly's CEO, Matt Oppenheimer, projected high-teens revenue growth driven by the core remittance business and new product offerings, with an adjusted EBITDA outlook for 2026 in the range of $300 million to $320 million [2] - The midpoint of the EBITDA range indicates a margin expansion of approximately 150 basis points and a 30% year-over-year growth in EBITDA [2] Business Operations - Remitly Global, Inc. provides digital financial services, including cross-border remittances and complementary financial services, through its website and mobile application across Canada, the United States, and globally [2]