Goldman Sachs Maintains Buy on Remitly Global, Inc. (RELY), Trims Target on Valuation Reset

We recently published an article titled 13 High Growth Cloud Stocks to Buy. 

On January 6, Goldman Sachs analyst Will Nance lowered the firm’s price target on Remitly Global, Inc. (NASDAQ:RELY) to $17 from $19 while maintaining a Buy rating on the shares. The update reflects a recalibration of valuation assumptions rather than a change in the firm’s view on the company’s underlying operating performance.

For the third quarter of 2025, Remitly Global, Inc. (NASDAQ:RELY) reported revenue of $419.5 million, representing a 25% year-over-year increase. Adjusted EBITDA margins reached 15%, indicating continued operating leverage as the company scales. During the quarter, Remitly Business expanded into the U.K. and Canada, which contributed to business send volumes nearly doubling on a sequential basis.

Remitly Global, Inc. (NASDAQ:RELY) is a Seattle-based financial technology company founded in 2011 that focuses on digital international money transfers. The platform enables customers to send funds to more than 170 countries through mobile apps and online channels, offering delivery options including bank deposits, cash pickup, and mobile wallets, with an emphasis on speed, transparency, and reliability in cross-border payments.

While we acknowledge the potential of RELY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RELY and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 8 Up and Coming Streaming Companies and Services and 9 High Growth Canadian Stocks to Buy

Disclosure: None.