Remitly Global (NASDAQ:RELY) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Remitly Global from “buy” to “hold.” Despite the move, analysts’ overall consensus remains “Moderate Buy,” with an average price target of $27.78.
• Remitly beat quarterly earnings and revenue estimates, reporting revenue of about $509.8 million, up 21.5% year over year.
• Management raised its 2026 outlook after the strong quarter, citing efficiency gains, higher transaction volumes, and expansion of payment services.

Remitly Global (NASDAQ:RELY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on RELY. KeyCorp increased their price target on Remitly Global from $28.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Wolfe Research increased their price objective on Remitly Global from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Monness Crespi & Hardt reiterated a "buy" rating on shares of Remitly Global in a research report on Thursday, August 6th. Weiss Ratings cut Remitly Global from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 30th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Remitly Global in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.78.

Remitly Global Price Performance

RELY opened at $22.32 on Friday. Remitly Global has a 1-year low of $12.08 and a 1-year high of $28.00. The stock has a market cap of $4.72 billion, a P/E ratio of 17.97 and a beta of 0.46. The stock's 50 day simple moving average is $23.59 and its 200 day simple moving average is $20.71.

Remitly Global (NASDAQ:RELY - Get Free Report) last released its earnings results on Wednesday, November 4th. The financial services provider reported $0.30 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $507.31 million. During the same period in the previous year, the firm earned $0.04 EPS. The business's revenue for the quarter was up 21.5% on a year-over-year basis. Research analysts expect that Remitly Global will post 0.85 EPS for the current fiscal year.

Insider Transactions at Remitly Global

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Remitly Global in the second quarter valued at $410,752,000. Generation Investment Management LLP acquired a new stake in shares of Remitly Global in the 2nd quarter valued at approximately $109,637,000. Bank of America Corp DE grew its position in Remitly Global by 471.7% in the first 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 acquiring an additional 4,252,294 shares during the last quarter. Lead Edge Capital Management LLC bought a new position in Remitly Global during the second quarter worth $60,232,971. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Remitly Global in the third quarter valued at $31,985,000. 74.25% of the stock is owned by institutional investors and hedge funds.

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.

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