Remitly Global (NASDAQ:RELY) Reaches New 1-Year High – Here’s Why

Posted by Stanley Muller on Sep 2nd, 2026

Remitly Global, Inc. (NASDAQ:RELY – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $27.15 and last traded at $26.9310, with a volume of 2681779 shares trading hands. The stock had previously closed at $25.71.

Analyst Upgrades and Downgrades

RELY has been the subject of a number of recent analyst reports. Wolfe Research raised their price objective 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. Monness Crespi & Hardt reiterated a “buy” rating on shares of Remitly Global in a research report on Thursday, August 6th. KeyCorp raised their price target on Remitly Global from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Zacks Research upgraded Remitly Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. Finally, Citizens Jmp upped their price objective on Remitly Global from $30.00 to $32.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Remitly Global has a consensus rating of “Buy” and an average target price of $27.78.

Check Out Our Latest Stock Analysis on RELY

Remitly Global Trading Up 4.6%

The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 19.35 and a beta of 0.36. The stock has a fifty day moving average of $24.22 and a 200-day moving average of $20.57.

Remitly Global (NASDAQ:RELY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.81. Remitly Global had a return on equity of 33.33% and a net margin of 16.85%.The business had revenue of $495.16 million for the quarter, compared to the consensus estimate of $486.25 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. Remitly Global’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Remitly Global, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vikas D. Mehta sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.15, for a total transaction of $653,750.00. Following the completion of the transaction, the chief financial officer owned 943,735 shares of the company’s stock, valued at approximately $24,678,670.25. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Joshua Hug sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $23.65, for a total value of $130,075.00. Following the sale, the director 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 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 502,771 shares of company stock worth $12,328,147. 6.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Remitly Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Remitly Global by 45.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,167 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 677 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Remitly Global by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 135,843 shares of the financial services provider’s stock valued at $2,550,000 after purchasing an additional 679 shares during the period. Main Management ETF Advisors LLC lifted its stake in Remitly Global by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 96,309 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 984 shares during the last quarter. Empowered Funds LLC grew its holdings in Remitly Global by 2.9% during the first quarter. Empowered Funds LLC now owns 37,593 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 1,050 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Remitly Global by 8.4% during the fourth quarter. New York State Teachers Retirement System now owns 15,203 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 1,184 shares during the period. Institutional investors and hedge funds own 74.25% of the company’s stock.

Remitly Global Company Profile

(Get Free Report)

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.