Goldman Sachs analyst Will Nance reduced the firm's price target for Remitly Global Inc. to $17 from $19 on January 6, while keeping a Buy rating on the shares.
In December, Citizens had reaffirmed its Market Outperform rating and $20 price target for the company. The firm described Remitly Global as a leader in digital remittances and suggested the stock saw an excessive sell-off before Investor Day. This was attributed to negative headlines on immigration, a projected slowdown in revenue growth, and investor apprehension about new small-dollar lending products.
During the third quarter of 2025, Remitly Global expanded its Remitly Business platform into the United Kingdom and Canada. This move significantly broadened the company's total addressable market from $2 trillion to $22 trillion.
By the end of the quarter, approximately 10,000 businesses were active on the platform. Transaction sizes for these business customers averaged twice those of traditional consumers.
The company's Flex product reached about 100,000 active users, with its revenue roughly doubling from the previous quarter. Send volume from high-value customers increased by 40%, and these customers now represent a larger portion of the total customer mix.
Remitly Global Inc. provides digital financial services in the United States, Canada, and internationally. The company offers cross-border remittances and complementary financial services through a mobile application and website.