Remitly Global (NASDAQ:RELY) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Remitly Global (NASDAQ:RELY) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also weighed in on the company. KeyCorp raised their price objective on Remitly Global from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded Remitly Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Citizens Jmp increased their price target on Remitly Global from $30.00 to $32.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. Cantor Fitzgerald lifted their price target on Remitly Global from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Finally, Zacks Research lowered shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. One 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.78.

Remitly Global Price Performance

RELY stock opened at $22.32 on Friday. The firm has a market cap of $4.72 billion, a PE ratio of 13.53 and a beta of 0.46. Remitly Global has a 12 month low of $12.08 and a 12 month high of $28.00. The firm has a 50 day simple moving average of $23.59 and a 200 day simple moving average of $20.71.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The firm had revenue of $509.84 million for the quarter, compared to analyst estimates of $507.31 million. Remitly Global had a net margin of 19.14% and a return on equity of 35.56%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 earnings per share. As a group, sell-side analysts expect that Remitly Global will post 0.85 earnings per share for the current year.

Insider Activity

In other news, insider Pankaj Sharma sold 21,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $26.39, for a total value of $554,190.00. Following the completion of the sale, the insider owned 716,022 shares in the company, valued at $18,895,820.58. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nigel Morris sold 6,300 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $27.03, for a total value of $170,289.00. Following the completion of the sale, the director directly owned 1,804,756 shares of the company’s stock, valued at approximately $48,782,554.68. This trade represents a 0.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 315,118 shares of company stock valued at $7,769,632 in the last 90 days. Company insiders own 6.53% of the company’s stock.

Hedge Funds Weigh In On Remitly Global

Large investors have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in shares of Remitly Global during the 1st quarter valued at $26,000. IFP Advisors Inc boosted its position in Remitly Global by 59.1% during the second quarter. IFP Advisors Inc now owns 1,419 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 527 shares during the last quarter. Nykredit A S purchased a new position in Remitly Global in the second quarter valued at about $40,000. GAMMA Investing LLC grew its stake in Remitly Global by 45.4% in the second quarter. GAMMA Investing LLC now owns 2,167 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 677 shares in the last quarter. Finally, Essential Partners LLC grew its stake in Remitly Global by 181.8% in the first quarter. Essential Partners LLC now owns 3,280 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 2,116 shares in the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

Remitly Global News Summary

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.

Remitly Global Company Profile

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.