Wolfe Research has upgraded Remitly Global Inc (RELY) to Outperform from Peer Perform as of September 8, 2025. This change reflects a more optimistic view on the company's prospects, potentially indicating improved fundamentals or enhanced business performance.
Remitly operates in the financial services sector, providing digital financial solutions tailored for immigrants and their families. Headquartered in Seattle, Washington, the firm employs approximately 2,800 staff. Its cross-border payments platform facilitates a reliable and transparent money movement experience, covering over 5,100 corridors without the need for local operations in each country.
Currently, Remitly holds a market capitalisation of $2.6 billion, with a price-to-earnings ratio (P/E) of 123.48 and an earnings per share (EPS) of $0.09. The company is scheduled to report its next earnings on August 4, 2026, with an estimated EPS of $0.09 and revenue of $488.2 million.
The upgrade underscores the evolving sentiment among analysts, with a consensus rating of Buy based on recent evaluations. In the last 90 days, Wolfe Research's upgrade follows a series of positive earnings surprises, notably a 63.3% surprise in Q3 2025, where the EPS was $0.04 against an estimate of $0.02.
Such decisions reflect the dynamic nature of analyst ratings, which can shift as new information emerges, highlighting the importance of considering a range of factors when making investment decisions.