Remitly Global (RELY) Draws Positive Ratings from Analysts

Core Viewpoint - Remitly Global, Inc. is recognized as one of the best revenue growth stocks to buy, with a positive outlook from analysts and a significant potential for price appreciation [1][3]. Group 1: Analyst Ratings and Price Targets - Cantor Fitzgerald initiated coverage of Remitly Global with an Overweight rating and a price target of $17 [1]. - Wolfe Research analyst Darrin Peller maintained a Buy rating with a price target of $16 [3]. - The consensus among 9 analysts covering Remitly Global is a Buy rating, with a median price target of $19.50, indicating an over 88% upside potential [3]. Group 2: Market Position and Growth Potential - Remitly is positioned to gain market share in a fragmented and competitive landscape, benefiting from the rise in digital remittances [3]. - The company's fundamentals are strong, with expectations of significant margin expansion, earnings growth, and free cash flow driven by operating leverage [3]. Group 3: Investment Considerations - While Remitly is seen as a promising investment, there are suggestions that certain AI stocks may offer greater upside potential with less downside risk [3].