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

04 Nov 2026, 20:03 by Tristan Rich · The Markets Daily

Remitly Global, Inc. (NASDAQ:RELY – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $27.75 and last traded at $27.6660, with a volume of 2,300,430 shares changing hands. The stock had previously closed at $25.38.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Monness Crespi & Hardt reissued a “buy” rating on shares of Remitly Global in a research note on Thursday, August 6th. Citigroup reaffirmed an “outperform” rating on shares of Remitly Global in a research note on Thursday, August 6th. Zacks Research cut shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. 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 report on Tuesday, August 25th. Finally, Cantor Fitzgerald raised their price objective on shares of Remitly Global from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Remitly Global has a consensus rating of “Moderate Buy” and an average price target of $27.78.

View Our Latest Research Report on RELY

Remitly Global Stock Performance

The company has a market capitalization of $5.62 billion, a PE ratio of 19.54 and a beta of 0.46. The stock has a 50 day moving average price of $23.73 and a two-hundred day moving average price of $20.56.

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

Insider Buying and Selling at Remitly Global

In other news, Director Phillip Riese sold 160,182 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $24.94, for a total value of $3,994,939.08. Following the sale, the director owned 361,094 shares in the company, valued at approximately $9,005,684.36. The trade was a 30.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vikas Mehta sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $26.15, for a total value of $653,750.00. Following the sale, the chief financial officer directly owned 943,735 shares of the company’s stock, valued at $24,678,670.25. This represents a 2.58% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 478,738 shares of company stock worth $11,874,000. 6.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Remitly Global

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Remitly Global in the 2nd quarter worth $410,752,000. Generation Investment Management LLP bought a new position in Remitly Global during the 2nd quarter worth about $109,637,000. Bank of America Corp DE raised its stake in shares of 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 purchasing an additional 4,252,294 shares during the period. Lead Edge Capital Management LLC acquired a new stake in shares of Remitly Global in the 2nd quarter valued at about $60,232,971. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Remitly Global in the 3rd quarter valued at about $31,985,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Remitly Global Company Profile

(Get Free Report)

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.