Remitly Global (NASDAQ:RELY) Cut to Hold at Zacks Research

Zacks Research lowered shares of Remitly Global (NASDAQ:RELY) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also recently commented on RELY. Bank of America began coverage on shares of Remitly Global in a research report on Tuesday, February 10th. They issued a “buy” rating and a $18.00 target price for the company. Oppenheimer set a $20.00 price objective on shares of Remitly Global in a research report on Thursday, February 19th. 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. JPMorgan Chase & Co. lowered their price objective on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group upped their price objective on shares of Remitly Global from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.67.

Remitly Global Price Performance

Shares of NASDAQ:RELY opened at $20.94 on Monday. The firm has a 50 day moving average of $16.49 and a 200-day moving average of $14.96. The stock has a market capitalization of $4.41 billion, a PE ratio of 67.55, a PEG ratio of 0.74 and a beta of 0.09. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.18. Remitly Global has a 12 month low of $12.08 and a 12 month high of $24.70.

Remitly Global (NASDAQ:RELY) last issued its earnings results on Wednesday, February 18th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. The company had revenue of $442.18 million during the quarter, compared to analysts’ expectations of $427.27 million. Remitly Global had a net margin of 4.15% and a return on equity of 8.87%. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) EPS. On average, equities research analysts predict that Remitly Global will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling at Remitly Global

In related news, Director Joshua Hug sold 29,049 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $17.98, for a total transaction of $522,301.02. Following the completion of the transaction, the director directly owned 3,575,733 shares in the company, valued at $64,291,679.34. This represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vikas D. Mehta sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $17.50, for a total transaction of $437,500.00. Following the transaction, the chief financial officer owned 862,759 shares of the company’s stock, valued at approximately $15,098,282.50. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,146,720 shares of company stock worth $194,410,894 over the last 90 days. 7.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Remitly Global

A number of institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in Remitly Global by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 135,843 shares of the financial services provider’s stock worth $2,550,000 after acquiring an additional 679 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Remitly Global by 29.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,098 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 714 shares during the last quarter. Main Management ETF Advisors LLC grew its holdings in Remitly Global by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 96,309 shares of the financial services provider’s stock worth $1,329,000 after acquiring an additional 984 shares during the last quarter. Xponance Inc. grew its holdings in Remitly Global by 8.7% during the 3rd quarter. Xponance Inc. now owns 13,291 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 1,060 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Remitly Global by 34.4% during the 3rd quarter. AlphaQuest LLC now owns 4,359 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,115 shares during the last quarter. 74.25% of the stock is owned by institutional investors.

Key Headlines Impacting Remitly Global

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target to $24 and moved to an “overweight” rating, signaling analyst confidence and adding upside interest for investors. Cantor Fitzgerald PT raise
• Positive Sentiment: Recent quarterly results (Feb.) showed stronger-than-expected revenue and a return to positive EPS, supporting the stock’s rerating and investor optimism heading into the May 6 report. Recent quarter summary
• Neutral Sentiment: Remitly announced it will release Q1 2026 results after market close on May 6 and host a 2:00 PM PT / 5:00 PM ET webcast — a near-term catalyst that can drive volatility depending on beats/misses and guidance. Earnings date release
• Neutral Sentiment: Insider sales were disclosed: Director Phillip John Riese sold ~40,000 shares and insider Pankaj Sharma sold 10,000 shares (transactions reported as executed under pre-arranged Rule 10b5‑1 plans). These raise watchfulness but reduce concerns about opportunistic selling. Riese SEC filing Sharma sale report
• Negative Sentiment: Zacks Research downgraded Remitly from “strong-buy” to “hold,” which could temper momentum from buy-side upgrades and weigh on sentiment if other brokers follow. Zacks downgrade

About Remitly Global

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.