Remitly Global (NASDAQ:RELY) Stock Price Down 7.4% – Here’s What Happened

Posted by Brenda Bartman on Sep 10th, 2026

Remitly Global, Inc. (NASDAQ:RELY – Get Free Report) shares dropped 7.4% on Thursday . The stock traded as low as $22.41 and last traded at $22.2970. 2,637,619 shares were traded during mid-day trading, a decline of 33% from the average session volume of 3,938,844 shares. The stock had previously closed at $24.07.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RELY shares. KeyCorp increased their price objective on shares of Remitly Global from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp boosted their target price on shares of Remitly Global from $30.00 to $32.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Monness Crespi & Hardt restated a “buy” rating on shares of Remitly Global in a research report on Thursday, August 6th. The Goldman Sachs Group increased their price target on shares of Remitly Global from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Cantor Fitzgerald lifted their price target on Remitly Global from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Remitly Global presently has an average rating of “Buy” and an average target price of $27.78.

Read Our Latest Research Report on Remitly Global

Remitly Global Stock Performance

The company has a fifty day moving average of $24.64 and a two-hundred day moving average of $21.08. The company has a market cap of $4.72 billion, a PE ratio of 16.01 and a beta of 0.36.

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

Insider Transactions at Remitly Global

In related news, CFO Vikas Mehta sold 25,000 shares of Remitly Global 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 directly owned 943,735 shares of the company’s stock, valued at approximately $24,678,670.25. The trade was a 2.58% decrease in their position. The transaction was disclosed in a document filed 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, insider Pankaj Sharma sold 21,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $26.39, for a total transaction of $554,190.00. Following the transaction, the insider owned 716,022 shares in the company, valued at $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 ninety days, insiders have sold 509,071 shares of company stock worth $12,498,436. 6.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RELY. GSA Capital Partners LLP lifted its stake in shares of Remitly Global by 1,484.2% during the 4th quarter. GSA Capital Partners LLP now owns 361,033 shares of the financial services provider’s stock worth $4,982,000 after acquiring an additional 338,244 shares during the last quarter. State of Wyoming bought a new position in Remitly Global in the 2nd quarter valued at $935,000. California State Teachers Retirement System grew its position in Remitly Global by 24.7% in the 1st quarter. California State Teachers Retirement System now owns 208,409 shares of the financial services provider’s stock valued at $3,266,000 after acquiring an additional 41,221 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Remitly Global in the fourth quarter worth $8,852,000. Finally, Bank of America Corp DE increased its stake 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 purchasing an additional 4,252,294 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.

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.