Goldman Sachs has reaffirmed its positive stance on Remitly Global, Inc. (RELY), maintaining a 'Buy' rating despite a recent adjustment in its price target. The firm's analyst, Will Nance, lowered the target from $19 to $17 on January 6th. This modification is attributed to a reassessment of valuation frameworks, rather than any diminished confidence in the company's fundamental business performance.
Remitly Global, a financial technology company based in Seattle and established in 2011, specializes in facilitating international digital money transfers. The company's platform allows users to send money to over 170 countries through various digital channels, offering diverse delivery options including direct bank deposits, cash pickup, and mobile wallet transfers. In the third quarter of 2025, Remitly Global demonstrated strong financial results, achieving revenues of $419.5 million, marking a significant 25% increase compared to the previous year. Additionally, its adjusted EBITDA margins reached 15%, showcasing enhanced operational efficiency and scalability. During this period, the company expanded its Remitly Business services into the United Kingdom and Canada, which substantially contributed to a near doubling of business send volumes sequentially.
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