Remitly Faces Softening Global Macro Conditions (Rating Downgrade) [Seeking Alpha]
Remitly Global, Inc. (RELY)
US:NASDAQ Investor Relations:
realindustryinc.com
Company Research
Source: Seeking Alpha
Follow Summary Remitly's revenue growth remains strong, but I'm concerned about macroeconomic uncertainties and rising fraud expenses. The global remittance market is expected to grow significantly, driven by cross-border migration and technology advancements, with Asia Pacific being the most lucrative region. Despite impressive customer growth and improved unit economics, RELY's stock price has fallen 44.6% in the past year, underperforming the benchmark. Management appears to be optimizing for profitability over revenue growth, with increased adjusted EBITDA projections and efforts to reduce stock-based compensation dilution. I'm Neutral on RELY due to softening macroeconomic conditions as central banks start or continue their interest rate-cutting cycles. Looking for more investing ideas like this one? Get them exclusively at IPO Edge. Learn More » We Are Investment Outlook Remitly NASDAQ: RELY ) provides consumers and businesses with cross-border remittance se
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High impacting Remitly Global, Inc. news events
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RELY
News
- Remitly Global, Inc. (NASDAQ: RELY) had its price target raised by analysts at Barclays PLC from $16.00 to $20.00. They now have an "overweight" rating on the stock.MarketBeat
- Remitly Global, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next [Yahoo! Finance]Yahoo! Finance
- Remitly Global Stock Was Soaring This Week: Here's Why [Yahoo! Finance]Yahoo! Finance
- Remitly Global Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- Remitly Global, Inc. (NASDAQ: RELY) had its price target raised by analysts at JMP Securities from $22.00 to $25.00. They now have a "market outperform" rating on the stock.MarketBeat
RELY
Earnings
- 10/30/24 - Beat
RELY
Sec Filings
- 10/30/24 - Form 10-Q
- 10/30/24 - Form 8-K
- 10/24/24 - Form SC
- RELY's page on the SEC website