Remitly Global (NASDAQ:RELY) Reaches New 52-Week High After Earnings Beat

Remitly Global, Inc. (NASDAQ:RELY)’s share price reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $27.75 and last traded at $27.6660, with a volume of 2,300,430 shares trading hands. The stock had previously closed at $25.38.

The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. The company had revenue of $509.84 million for the quarter, compared to the consensus estimate of $507.31 million. Remitly Global had a net margin of 19.14% and a return on equity of 37.93%. Remitly Global’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS.

Key Headlines Impacting Remitly Global

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

• Positive Sentiment: Record Q3 performance: Revenue rose 22% year over year to $509.8 million, while send volume increased 25%. Net income climbed to $67.6 million, and adjusted EBITDA rose 97% to $120.8 million. Revenue and earnings exceeded consensus estimates, supporting the case for continued growth. Remitly Q3 results and outlook
• Positive Sentiment: Higher outlook and larger buyback: Remitly raised its 2026 outlook, projected Q4 revenue of $531 million to $533 million, and described expectations for high-teens growth in 2027. The board also increased its share-repurchase authorization from $200 million to $500 million, which could support investor confidence and share demand. Q3 call highlights
• Neutral Sentiment: Management plans to participate in a post-earnings webinar and an investor conference. These events may provide more detail on results and guidance, but no new business developments were announced. Investor event announcement
• Negative Sentiment: Put-option trading was unusually elevated: traders bought 2,262 contracts, 134% above the typical volume. This may reflect increased hedging or bearish sentiment, though options activity alone does not establish the market’s direction.

Analyst Ratings Changes

A number of brokerages recently weighed in on RELY. The Goldman Sachs Group boosted their price objective on shares of Remitly Global from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Weiss Ratings downgraded Remitly Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Cantor Fitzgerald lifted their target price on Remitly Global from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Wolfe Research lifted their target price on Remitly Global from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Finally, Monness Crespi & Hardt restated a “buy” rating on shares of Remitly Global in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.78.

Insider Activity at Remitly Global

In other news, insider Pankaj Sharma sold 21,000 shares of the business’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 transaction of $554,190.00. Following the completion of the transaction, the insider directly owned 716,022 shares of the company’s stock, valued at $18,895,820.58. The trade was 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikas D. Mehta sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $26.15, for a total transaction of $653,750.00. Following the transaction, the chief financial officer directly owned 943,735 shares of the company’s stock, valued at $24,678,670.25. The trade was a 2.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 309,618 shares of company stock worth $7,651,767. 6.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Remitly Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Remitly Global during the second quarter valued at approximately $410,752,000. Generation Investment Management LLP purchased a new stake in Remitly Global during the second quarter valued at approximately $109,637,000. Bank of America Corp DE raised 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 worth $80,759,000 after acquiring an additional 4,252,294 shares during the period. Lead Edge Capital Management LLC bought a new position in Remitly Global in the second quarter worth approximately $60,232,971. Finally, Dimensional Fund Advisors LP raised its position in Remitly Global by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,136,288 shares of the financial services provider’s stock worth $49,142,000 after acquiring an additional 350,595 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Remitly Global Trading Up 3.6%

The company’s 50 day moving average price is $23.66 and its two-hundred day moving average price is $20.66. The firm has a market cap of $4.72 billion, a PE ratio of 13.53 and a beta of 0.46.

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.