Remitly Global Stock News

Remitly Global is guiding for strong revenue growth through 2028. The company is expanding into new products, new geographies, and new demographies for its international money transfer products.

Remitly Global, Inc. (RELY) Analyst/Investor Day Transcript

Remitly is a market-share gainer in remittances and has a long runway to keep growing. The stock is underappreciated by Wall Street today and trades down sharply from its highs.

Divested 5,036,343 shares of Remitly Global, resulting in a position value decrease of approximately $94.68 million The transaction represented a 3.94% change relative to the fund's reportable assets under management (AUM) Post-trade, the fund holds 61,463 shares valued at $1.00 million The position now accounts for 0.04% of AUM, which places it outside the fund's top five holdings

Remitly topped revenue estimates in its third-quarter report. Its take rate is falling as it expands to new markets.

We believe Remitly Global (RELY) stock is worthy of consideration: It is growing, generating cash, and offered at a considerable valuation discount. Companies with such profiles can utilize cash to drive further revenue growth, or simply return it to shareholders via dividends or buybacks.

Fintech stocks have plunged on concerns about rising credit risk. Remitly has little exposure to credit, but the stock fell sharply on its recent earnings report.

Remitly's stock is down even though the business is growing rather quickly. The company is facing concerns over an immigration crackdown, but these issues are not showing up in the numbers.