Remitly Global (NASDAQ:RELY) Reaches New 1-Year High After Analyst Upgrade

Posted by on May 11th, 2026

Remitly Global, Inc. (NASDAQ:RELY – Get Free Report)’s stock price hit a new 52-week high during trading on Monday after Cantor Fitzgerald raised their price target on the stock from $24.00 to $28.00. Cantor Fitzgerald currently has an overweight rating on the stock. Remitly Global traded as high as $24.92 and last traded at $24.5070, with a volume of 385234 shares changing hands. The stock had previously closed at $24.03.

A number of other equities research analysts also recently commented on RELY. KeyCorp raised their price objective on shares of Remitly Global from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. The Goldman Sachs Group restated a “buy” rating and issued a $27.00 price objective on shares of Remitly Global in a research report on Thursday. Citizens Jmp raised their price objective on shares of Remitly Global from $22.00 to $26.00 and gave the company a “market outperform” rating in a research report on Thursday. Zacks Research downgraded shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Remitly Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Remitly Global presently has an average rating of “Moderate Buy” and a consensus price target of $24.89.

View Our Latest Research Report on RELY

Insider Activity at Remitly Global

In other news, insider Ltd Naspers sold 12,000,000 shares of Remitly Global stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.98, for a total transaction of $191,760,000.00. Following the completion of the sale, the insider directly owned 13,441,745 shares in the company, valued at approximately $214,799,085.10. This trade represents a 47.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ankur Sinha sold 9,741 shares of Remitly Global stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $16.94, for a total transaction of $165,012.54. Following the sale, the insider owned 1,180,119 shares of the company’s stock, valued at approximately $19,991,215.86. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,163,520 shares of company stock worth $194,773,102. 6.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Remitly Global by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,136,288 shares of the financial services provider’s stock worth $49,142,000 after purchasing an additional 350,595 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Remitly Global by 124.2% during the 1st quarter. Parallel Advisors LLC now owns 15,540 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 8,609 shares during the last quarter. Swiss National Bank raised its position in shares of Remitly Global by 1.7% during the 1st quarter. Swiss National Bank now owns 351,500 shares of the financial services provider’s stock worth $5,508,000 after purchasing an additional 6,000 shares during the last quarter. Future Fund LLC raised its position in shares of Remitly Global by 26.6% during the 1st quarter. Future Fund LLC now owns 105,926 shares of the financial services provider’s stock worth $1,660,000 after purchasing an additional 22,224 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Remitly Global during the 1st quarter worth approximately $950,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Remitly Global Price Performance

The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 50.31 and a beta of 0.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.30 and a current ratio of 3.30. The company has a 50-day moving average of $17.82 and a 200-day moving average of $15.37.

Remitly Global (NASDAQ:RELY – Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.12 by $0.11. The firm had revenue of $452.80 million during the quarter, compared to analysts’ expectations of $438.94 million. Remitly Global had a net margin of 6.12% and a return on equity of 13.28%. Remitly Global’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. As a group, equities research analysts expect that Remitly Global, Inc. will post 0.61 earnings per share for the current fiscal year.

About Remitly Global

(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.

Further Reading

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