William Blair Reiterates Buy on Remitly (RELY) Highlighting Diversification Beyond Remittances

Remitly Global Inc. (NASDAQ:RELY) is one of the best low-priced technology stocks to buy right now. Remitly Global Inc. (NASDAQ:RELY) remains on the radar of analysts as a key player in digital remittances. On September 10, William Blair analyst Christopher Kennedy reiterated a Buy rating (no price target assigned), citing confidence in the company’s ability to expand its financial services offerings and deepen engagement with its large customer base.

According to the analyst, while high-volume senders face macroeconomic challenges, Remitly’s core remittance franchise continues to perform well, providing a stable foundation for growth. The company’s push into adjacent financial products remains in its early stages but represents a meaningful opportunity to widen margins and diversify revenue streams.

By building on its existing platform, Remitly can roll out new services at relatively low incremental cost, limiting risk while aligning with customer demands.

Valuation also adds to the appeal. The company’s shares currently trade at a discount to those of its peer, Wise plc, suggesting room for multiple expansion if Remitly sustains its current trajectory.

Kennedy believes that with strong fundamentals, expanding product breadth, and growing investor familiarity with the digital remittance model, the stock offers an attractive risk-reward profile.

Remitly Global Inc. (NASDAQ:RELY) is a digital financial services company specializing in cross-border remittances. The platform enables migrants and expatriates to send money quickly, securely, and at competitive rates through mobile and online channels.

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Disclosure: None. This article is originally published at Insider Monkey.