Professional
Added to YB: 2023-10-01
Pitch date: 2023-10-01
RELY [bullish]
Remitly Global, Inc.
-41.8%
current return
Author Info
Pernas Research is a former CIO of a $3.5B fund that now share actionable stock research. Sign up for the newsletter.
Company Info
Remitly Global, Inc. engages in the provision of digital financial services in the United States, Canada, and internationally.
Market Cap
$3.2B
Pitch Price
$25.17
Price Target
50.44 (+244%)
Dividend
N/A
EV/EBITDA
47.75
P/E
161.60
EV/Sales
1.78
Sector
Financial Services
Category
growth
Remitly: X-Border Digital Remittance Winner
RELY: Digital remittance leader poised for growth. Superior digital offering gaining share from legacy players like WU. Expansion aided by shift to digital payments & strong unit economics at scale. Targets doubling share in 3-5 yrs despite risks of price war & macro slowdown. $50 PT for 100%+ upside. Mgmt sees FCF+ ahead.
Read full article (5 min)