Cantor Fitzgerald's Bullish Call on RELY: What the 54% Upside Forecast Means for Remitly Global

Cantor Fitzgerald just threw down a positive marker for Remitly Global (RELY), kicking off coverage on January 27, 2026 with an Overweight rating. That’s analyst-speak for “we like where this is heading”—and the numbers back it up. The consensus price target sits at $22.17 per share as of mid-January, up a substantial 54.05% from the stock’s then-recent close of $14.39. The forecast range spans from a conservative $17.17 to an optimistic $29.40, reflecting genuine conviction among those tracking the company.

Strong Fundamentals Point to Expansion Ahead for Remitly

The growth thesis underlying the bullish stance looks solid on paper. Remitly is projected to pull in $1,878 million in annual revenue, representing a 21.56% year-over-year increase. The company’s non-GAAP earnings per share are forecast at $0.16, signaling improving profitability as the business scales. For a fintech player focused on cross-border remittances, these metrics suggest the company is transitioning from hyper-growth mode into a more sustainable, profitable expansion phase. With RELY trading below consensus targets, the street is essentially suggesting meaningful upside remains available for patient investors.

Institutional Money Shows Confidence Despite Recent Portfolio Shifts

The fund landscape around RELY tells an interesting story of measured confidence. Currently, 503 funds and institutions hold positions in the stock, though this represents a 30-owner decline from the prior quarter (5.63% reduction). However, the pullback appears selective rather than a wholesale retreat. Average portfolio weighting across dedicated RELY funds stands at 0.33%, an uptick of 0.94%—suggesting existing holders are actually increasing their conviction. Meanwhile, institutions collectively expanded their shares by 0.51% to 201,890K shares over the three-month span. The put/call ratio of 0.38 leans decidedly bullish, indicating options traders expect upward momentum.

Major Stakeholders Recalibrate Holdings in RELY

The big-money moves around Remitly reveal a nuanced reshuffling among top shareholders. Naspers remains the largest, holding 25,442K shares (12.17% of the company) with no change quarter-over-quarter. Meanwhile, Baillie Gifford upped its absolute stake to 11,659K shares, a 32.51% increase in position size, though it slightly trimmed portfolio allocation by 45.45%. This suggests the firm sees value but is rebalancing broader allocations.

More notably, Arrowstreet Capital and ArrowMark Colorado Holdings both ramped up their RELY exposure. Arrowstreet jumped from 2,987K to 5,554K shares (+46.23%), with portfolio allocation climbing 44.09% quarter-over-quarter. ArrowMark similarly increased holdings from 3,783K to 5,531K shares (+31.61%) and boosted portfolio weighting by 30.95%. Generation Investment Management maintained its 7,692K-share position (3.68% ownership) without change. The pattern suggests smart money views current levels as an attractive entry point for building meaningful stakes in Remitly’s story.