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

Remitly Global (NASDAQ:RELY) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Citizens Jmp lifted their target price on Remitly Global from $30.00 to $32.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. Weiss Ratings cut shares of Remitly Global from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Cantor Fitzgerald increased their price target on Remitly Global from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Wolfe Research upped their price target on shares of Remitly Global from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Finally, Monness Crespi & Hardt reissued a “buy” rating on shares of Remitly Global in a research note 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.78.

Remitly Global Trading Up 3.6%

Shares of Remitly Global stock opened at $22.32 on Friday. The company has a 50 day moving average of $23.59 and a 200-day moving average of $20.71. The company has a market cap of $4.72 billion, a PE ratio of 17.97 and a beta of 0.46. Remitly Global has a 1-year low of $12.08 and a 1-year high of $28.00.

Remitly Global (NASDAQ:RELY) last announced its quarterly 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. The firm had revenue of $509.84 million during the quarter, compared to analyst estimates of $507.31 million. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 earnings per share. Research analysts forecast that Remitly Global will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Nigel W. Morris sold 6,300 shares of the 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 completion of the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pankaj Sharma sold 21,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 716,022 shares in the company, valued at $18,895,820.58. This trade represents 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. Over the last ninety days, insiders sold 315,118 shares of company stock valued at $7,769,632. 6.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Remitly Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 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 shares of Remitly Global in the 2nd quarter valued at approximately $109,637,000. Bank of America Corp DE increased its stake in Remitly Global by 471.7% in 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 acquired a new stake in shares of Remitly Global during the 2nd quarter worth $60,232,971. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Remitly Global in the 3rd quarter worth approximately $31,985,000. Institutional investors own 74.25% of the company’s stock.

Trending Headlines about Remitly Global

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.

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.