Remitly Global (NASDAQ:RELY) Shares Gap Down – Here’s What Happened

Remitly Global, Inc. (NASDAQ:RELY)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $27.08, but opened at $22.62. Remitly Global shares last traded at $21.79, with a volume of 1,852,943 shares changing hands.

Key Remitly Global News

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Remitly reported record third-quarter growth and beat earnings and revenue estimates. Earnings were $0.48 per share versus the Zacks consensus of $0.33, while revenue of $509.8 million topped estimates of $507.3 million. Article: Remitly Global Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its 2026 outlook after the strong quarter, citing AI-driven efficiency, higher transaction volumes and expansion of payment services. It expects fourth-quarter revenue of $531 million to $533 million and outlined high-teens growth for 2027, bolstering the growth outlook. Article: RELY Q3 Earnings Call Highlights Growth and Higher Outlook
• Neutral Sentiment: Remitly’s management will participate in an investor conference and post-earnings webinar on November 9. The events may provide more detail on results and guidance but are not, by themselves, a change to the company’s outlook. Article: Remitly Announces Upcoming Webinar and Investor Conference Participation
• Negative Sentiment: Put-option trading was unusually active, with 2,262 puts purchased—134% above typical volume. This may reflect bearish positioning or hedging, though options activity alone does not establish a clear view of the stock’s direction.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald raised their price objective on Remitly Global from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Zacks Research lowered Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Citigroup restated an “outperform” rating on shares of Remitly Global in a report on Thursday, August 6th. KeyCorp raised their price target on Remitly Global from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Wolfe Research lifted their price target on Remitly Global from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Remitly Global has an average rating of “Moderate Buy” and a consensus target price of $27.78.

Remitly Global Trading Up 3.6%

The firm has a market cap of $4.72 billion, a PE ratio of 13.53 and a beta of 0.46. The firm has a fifty day simple moving average of $23.59 and a two-hundred day simple moving average of $20.71.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The business had revenue of $509.84 million for the quarter, compared to analysts’ expectations of $507.31 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities analysts expect that Remitly Global, Inc. will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nigel W. Morris sold 20,000 shares of Remitly Global stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $26.26, for a total transaction of $525,200.00. Following the completion of the transaction, the director directly owned 1,831,056 shares in the company, valued at approximately $48,083,530.56. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua Hug sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $23.65, for a total value of $130,075.00. Following the completion of the sale, the director directly owned 2,675,389 shares in the company, valued at approximately $63,272,949.85. This represents a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 315,118 shares of company stock valued at $7,769,632 in the last 90 days. Corporate insiders own 6.53% of the company’s stock.

Hedge Funds Weigh In On Remitly Global

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Remitly Global in the 2nd quarter valued at approximately $410,752,000. Generation Investment Management LLP bought a new position in shares of Remitly Global during the 2nd quarter valued at $109,637,000. Bank of America Corp DE lifted its holdings in shares of Remitly Global by 471.7% during the 1st quarter. Bank of America Corp DE now owns 5,153,726 shares of the financial services provider’s stock valued at $80,759,000 after buying an additional 4,252,294 shares during the period. Lead Edge Capital Management LLC bought a new position in shares of Remitly Global during the 2nd quarter valued at $60,232,971. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Remitly Global by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,136,288 shares of the financial services provider’s stock worth $49,142,000 after buying an additional 350,595 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

About Remitly Global

Remitly Global, Inc is a digital financial services company that enables consumers to send money internationally. Its platform is designed primarily for immigrants and other customers who regularly transfer funds to family and friends in their countries of origin.

Through its mobile application and website, Remitly allows users to initiate cross-border remittances and select delivery options such as bank deposits, mobile-wallet transfers, cash pickup and, in some markets, home delivery.