Cantor Fitzgerald raised its price objective for Remitly Global Inc (NASDAQ: RELY) to $20 from $17 on Monday and left its rating at Overweight, citing the company’s latest quarterly performance and forward guidance. The stock has moved sharply higher, climbing 34% over the past week and trading at $16.47 with a market capitalization of $3.61 billion.
The firm’s upward revision follows Remitly’s fourth-quarter earnings disclosure and the set of targets the company provided for fiscal 2026. For the first quarter of fiscal 2026, Remitly guided revenue to a range of $436 million to $438 million and projected adjusted EBITDA between $82 million and $84 million.
For the full fiscal year 2026, the company offered revenue guidance of $1.94 billion to $1.96 billion and adjusted EBITDA guidance of $340 million to $360 million. Management said the outlook reflects continued momentum, including revenue growth of 29% over the last twelve months.
Remitly’s fourth-quarter reported revenue was $442 million, above the Street estimate of $428 million, while adjusted EBITDA came in at $89 million versus the projected $52 million. Those results and the forward-looking numbers were cited by Cantor Fitzgerald in supporting its decision to increase the price target.
The research house explained that its new $20 target is derived from an equal-weighted approach combining 9 times its fiscal 2027 EBITDA estimate of $444 million and a discounted cash flow analysis. By contrast, the prior target had been based on 8 times a fiscal 2027 EBITDA estimate of $409 million.
Cantor Fitzgerald also noted factors that helped alleviate investor concerns. The firm pointed to the continued commitment of co-founder and former CEO Matt Oppenheimer during the quarter as a stabilizing influence. Cantor added that the fourth-quarter performance addressed thematic headwinds that had weighed on sentiment, specifically issues tied to immigration policy and stablecoins.
In the quarter, Remitly announced a leadership change, appointing Sebastian J. Gunningham as chief executive officer to succeed co-founder Matt Oppenheimer. The transition coincided with results that exceeded both Q4 and full-year 2025 revenue and adjusted EBITDA guidance.
Other analyst activity accompanied Cantor Fitzgerald’s revision. Citizens adjusted its price target on Remitly shares to $22.00 from $20.00 while maintaining a Market Outperform rating, citing improved margins and the company’s revised guidance. Cantor Fitzgerald reiterated its Overweight view on Remitly stock with the new $20 target, having previously reiterated an Overweight rating with a $17.00 target following the quarter’s results. Cantor also initiated coverage while assigning an Overweight rating, citing the company’s potential to expand market share in digital remittances.
Summary
Cantor Fitzgerald raised its Remitly price target to $20 and held an Overweight rating after the company posted stronger-than-expected Q4 results and issued fiscal 2026 guidance that reflects continued revenue momentum and margin improvement. Management changes and analyst reactions accompanied the updates, and the stock has moved markedly higher in the prior week.
Key points
- Analyst action - Cantor Fitzgerald lifted its price target to $20 from $17 and maintained an Overweight rating, using a valuation blend of a 9x fiscal 2027 EBITDA multiple and a discounted cash flow analysis.
- Company guidance and performance - Remitly provided Q1 and fiscal 2026 revenue and adjusted EBITDA guidance and reported Q4 revenue of $442 million and adjusted EBITDA of $89 million, both above expectations.
- Market and sector impact - The developments affect the digital remittance and broader fintech/payments sectors, where guidance, margins, and addressable market share are key investor considerations.
Risks and uncertainties
- Policy and thematic headwinds - Cantor Fitzgerald noted that immigration policy-related concerns and stablecoins had been thematic headwinds that the quarter’s results helped to address.
- Leadership transition - The company announced a CEO change during the quarter, which represents an operational change investors will be monitoring as performance and strategy evolve.
- Market expectations - Prior concerns about immigration and revenue growth were cited by analysts, indicating lingering uncertainty tied to growth and macro-related drivers in the remittance market.
Overall, the analyst move and management guidance underline a period of positive operating momentum for Remitly, as reflected in stronger-than-expected top-line and adjusted EBITDA results and subsequent revisions to price targets by multiple research firms.