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Why Remitly (RELY) Stock Is Up Today

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

RELY Cover Image

What Happened?

Shares of online money transfer platform Remitly (NASDAQ: RELY) jumped 2.6% in the morning session after investors appeared to be buying the dip in a technical rebound following a significant drop in the previous month. The stock had previously fallen 16% after an earnings report was overshadowed by the company's forecast for slowing growth. Concerns about rising credit risk, partly due to a weakening U.S. economy, also weighed on the shares. Despite the recent pullback, which sent the stock to a 52-week low, Wall Street analysts maintained a consensus "Buy" rating on the digital remittance specialist.

After the initial pop the shares cooled down to $13.35, up 3.2% from previous close.

Is now the time to buy Remitly? Access our full analysis report here.

What Is The Market Telling Us

Remitly’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 27 days ago when the stock dropped 23.2% on the news that the company reported mixed third-quarter results, with its forecast for the upcoming quarter falling short of expectations. Although the online money transfer platform announced better-than-expected revenue for the third quarter, which grew 24.7% from the previous year, its outlook weighed on the stock. The company's revenue guidance for the next quarter was approximately $427 million, which came in below analysts' estimates. Furthermore, its guidance for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also fell short of Wall Street's projections. The market's negative reaction suggested that concerns about future performance overshadowed the solid results of the recent quarter.

Remitly is down 40.4% since the beginning of the year, and at $13.35 per share, it is trading 50.8% below its 52-week high of $27.14 from February 2025. Investors who bought $1,000 worth of Remitly’s shares at the IPO in September 2021 would now be looking at an investment worth $275.44.

While Wall Street chases Nvidia at all-time highs, an under-the-radar semiconductor supplier is dominating a critical AI component these giants can’t build without. Click here to access our full research report.

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