Why Remitly Global Rebounded 39.7% in April

Shares of Remitly Global (NASDAQ: RELY) have soared 39.7% in April, according to data from S&P Global Market Intelligence. The remittance provider has caught some momentum after posting strong growth and adopting some new product features last month.

As of this writing on May 1st, 2026, Remitly Global is up 72% year-to-date (YTD). Here's why it was soaring yet again this April, and whether the stock is still cheap today.

New innovations and risk mitigation

Remitly's stock was beaten down amid fears of an immigration crackdown in the United States and of stablecoin disruption. The idea was that fewer immigrants would send money back to Latin America if the Trump crackdown on immigration sent many people back to their home countries, creating a headwind for Remitly's business. Stablecoins are supposed to disrupt the status quo in remittances, making it much cheaper to send money across borders.

Neither bear case has materialized. Remitly's revenue grew 26% year over year last quarter, driven by a 35% increase in send volume to $20 billion. It is still a single-digit market share player in remittances, but it is gaining significant market share every year. Investors are quite pleased with the results, and the momentum from this earnings report continued last month.

In April, Remitly launched new integrations of its product through WhatsApp (which is highly popular outside the United States) and ChatGPT, innovations that the market loved. Remitly is meeting customers where they are, and Wall Street believes this will lead to continued market share gains and rapid revenue growth.

Image source: Getty Images.

Time to buy Remitly stock?

At the same time revenue growth is outpacing industry averages, Remitly is flexing its profitability muscle. Operating income was $38.8 million last quarter for a margin of 9%, Remitly's highest level ever. There has been a question over whether Remitly could actually generate a profit for shareholders, and it is now beginning to prove that.

If Remitly's stock has soared 73% this year, what has that done to the valuation? Remitly trades at a price-to-sales ratio (P/S) of 3, which is still below the S&P 500 Index average. Remitly is growing much faster than the average S&P 500 stock and with much better unit economics. Even after this huge stock run to start 2026, Remitly's share price is not overly expensive if you believe that revenue growth and margin expansion continue in the years ahead.

Buy Remitly Global. You won't be disappointed with the results a few years down the line.

Brett Schafer has positions in Remitly Global. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.