Goldman Sachs Trims Remitly (RELY) PT to $17 While Keeping Buy Rating on Remittance Growth

Remitly Global Inc. (NASDAQ:RELY) is one of the overlooked growth stocks to buy. On January 6, Goldman Sachs analyst Will Nance lowered the firm’s price target on Remitly Global to $17 from $19 and maintained a Buy rating on the shares.

Earlier on December 11, Citizens reaffirmed its Market Outperform rating and $20 price target for Remitly Global and identified the company as a leader in the digital remittance sector. The firm suggested that the stock experienced an excessive sell-off before the company’s Investor Day due to negative headlines regarding immigration, a projected slowdown in revenue growth, and investor apprehension concerning the launch of new small-dollar lending products.

In Q3 2025, Remitly Global Inc. (NASDAQ:RELY) scaled its new product categories. Remitly Business expanded into the UK and Canada, significantly broadening the company’s TAM from $2 trillion to $22 trillion. By the end of Q3, ~10,000 businesses were active on the platform, with transaction sizes averaging twice those of traditional consumers. Additionally, the Flex product reached ~100,000 active users, with its revenue ~doubling sequentially. The company also saw a 40% increase in send volume from high-value customers, who now represent a larger portion of the total customer mix.

Remitly Global Inc. (NASDAQ:RELY) provides digital financial services in the US, Canada, and internationally. It offers cross-border remittances and complementary financial services through a mobile application and website.

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