Remitly Global (NASDAQ:RELY) Sets New 52-Week High After Strong Earnings

Remitly Global, Inc. (NASDAQ:RELY)’s share price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $27.75 and last traded at $27.6660, with a volume of 2,300,430 shares trading hands. The stock had previously closed at $25.38.

The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. The company had revenue of $509.84 million for the quarter, compared to analyst estimates of $507.31 million. Remitly Global had a net margin of 19.14% and a return on equity of 37.93%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS.

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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RELY shares. Cantor Fitzgerald boosted their target price on Remitly Global from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. The Goldman Sachs Group boosted their price objective on Remitly Global from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Zacks Research lowered Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wolfe Research raised their target price on shares of Remitly Global from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Finally, Citigroup restated an “outperform” rating on shares of Remitly Global in a research report on Thursday, August 6th. One investment 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’s stock. According to data from MarketBeat, Remitly Global presently has a consensus rating of “Moderate Buy” and an average target price of $27.78.

Insider Buying and Selling at Remitly Global

In related news, insider Pankaj Sharma sold 21,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $26.39, for a total value of $554,190.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nigel Morris sold 6,300 shares of Remitly Global stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $27.03, for a total transaction of $170,289.00. Following the transaction, the director directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 309,618 shares of company stock valued at $7,651,767 over the last 90 days. 6.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Remitly Global

Large investors have recently made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in Remitly Global during the 1st quarter valued at about $26,000. IFP Advisors Inc increased its stake in Remitly Global by 59.1% during the 2nd quarter. IFP Advisors Inc now owns 1,419 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 527 shares in the last quarter. Nykredit A S bought a new stake in Remitly Global during the 2nd quarter valued at about $40,000. GAMMA Investing LLC raised its holdings in Remitly Global by 45.4% in the second quarter. GAMMA Investing LLC now owns 2,167 shares of the financial services provider’s stock worth $49,000 after buying an additional 677 shares during the last quarter. Finally, Essential Partners LLC raised its holdings in Remitly Global by 181.8% in the first quarter. Essential Partners LLC now owns 3,280 shares of the financial services provider’s stock worth $51,000 after buying an additional 2,116 shares during the last quarter. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

Remitly Global Stock Up 3.6%

The firm’s fifty day simple moving average is $23.66 and its 200-day simple moving average is $20.66. The firm has a market capitalization of $4.72 billion, a PE ratio of 13.53 and a beta of 0.46.

Remitly Global Company Profile

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.