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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RELY
News
- This Remitly Global Insider Increased Their Holding By 17% Last Year [Yahoo! Finance]Yahoo! Finance
- Remitly Global, Inc. (RELY): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- Should You Maintain Your Position in Remitly Global (RELY)? [Yahoo! Finance]Yahoo! Finance
- Remitly to Present at the 2024 Goldman Sachs Communacopia + Technology ConferenceGlobeNewswire
- Remitly Global Second Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
RELY
Earnings
- 7/31/24 - Beat
RELY
Sec Filings
- 9/3/24 - Form 4
- 8/29/24 - Form 144
- 8/27/24 - Form 4
- RELY's page on the SEC website