Cantor Fitzgerald Reaffirms Overweight Rating on Remitly (RELY) Following Strong Transfer Growth

Remitly Global Inc. (NASDAQ:RELY) ranks among the best technology growth stocks to buy under $100. On May 14, Cantor Fitzgerald reaffirmed its Overweight rating and $28 price target for Remitly Global Inc. (NASDAQ:RELY). According to Remitly’s quarterly report, the platform’s transfer volume increased by more than 30% quarter-over-quarter in Q1 2026, with more than 20,000 firms adopting the platform.

Meanwhile, volume from high-value senders increased by around 73% year-over-year during the quarter. At the same time, the volume combination of high-value senders rose by approximately 220 basis points year over year.

Management stated that much of the initial success was driven by Remitly’s existing client base, notably those who were already transferring more than $5,000 through the platform. Cantor Fitzgerald anticipates additional revenue growth as Remitly Global Inc. (NASDAQ:RELY) expands its dedicated advertising and customer acquisition initiatives for this group.

As the platform evolves, Cantor Fitzgerald expects Remitly Global Inc. (NASDAQ:RELY) to focus more on business-to-business capabilities and expand upmarket.

Remitly Global Inc. (NASDAQ:RELY) provides financial services, specifically cross-border remittance services, globally. The company is based in Seattle, Washington.

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