Remitly Stock Growth and Financial Outlook

Remitly has seen significant growth in its stock value, with a 50% increase in 2020 alone. This rapid growth can be attributed to the company's strong financial performance.

Remitly's revenue has consistently increased over the years, reaching $1.3 billion in 2020. This growth is a testament to the company's ability to expand its services and reach more customers.

The company's net income has also shown a significant improvement, reaching $64 million in 2020. This improvement in net income is a result of Remitly's focus on reducing costs and increasing efficiency.

Remitly's financial outlook is strong, with the company expecting to continue its growth trajectory in the coming years.

Remitly is an online platform that enables consumers to safely and quickly send money globally, thanks in part to early investment from Amazon founder Jeff Bezos.

Remitly is listed on the NASDAQ stock exchange under the ticker symbol RELY.

Remitly is an online platform that enables consumers to safely and quickly send money globally.

The company has a notable investor in Amazon founder Jeff Bezos, who was an early supporter of Remitly's mission.

Remitly has appointed two new members to its Board of Directors: Phyllis Campbell and Ryno Blignaut.

Phyllis Campbell has a notable history of driving customer-focused growth, having served as CEO of the U.S. Bank of Washington.

Ryno Blignaut has extensive experience in the money transfer industry and leadership roles in tech companies, including serving as CFO of Xoom during its IPO.

CEO Matt Oppenheimer is enthusiastic about their contributions to Remitly’s mission of providing digital financial services to immigrants.

Ron Shah, a current director, will retire from the board effective June 14, 2023, to pursue other interests.

Curious to learn more? Check out: Remitly Ceo

Remitly's financial performance is a key aspect to consider when evaluating the stock. Remitly's revenue growth has been impressive, with a 42.9% compounded annual growth rate over the last three years. This is a great starting point for our analysis because it shows Remitly's offerings resonate with customers.

Remitly's revenue growth has continued to accelerate, with a 39.3% year-on-year increase this quarter. This exceeded Wall Street's estimates by 5%, with management guiding for a 28.4% year-on-year increase next quarter.

Remitly's financial health is also worth noting. The company's cash-to-debt ratio is 23.71, indicating a strong balance sheet. Remitly's debt-to-equity ratio is 0.02, suggesting that the company has a manageable level of debt.

Worth a look: Compared to Growth Stocks Value Stocks' Price-earnings Ratio Is Typically

Financial Strength is a crucial aspect of a company's overall health. Remitly Global Inc's Cash-To-Debt ratio is a healthy 23.71, indicating that the company has a solid financial position.

This is because Remitly Global Inc has a significant amount of cash on hand compared to its debt. The company's Equity-to-Asset ratio is 0.65, which is relatively low, indicating that a significant portion of its assets are financed through debt.

However, the Debt-to-Equity ratio is a mere 0.02, suggesting that the company's debt is relatively low compared to its equity. The Debt-to-EBITDA ratio is -0.38, which is a strong indicator of the company's ability to service its debt.

The Piotroski F-Score is 7/9, which is a good sign, but the Altman Z-Score is 9.17, indicating that the company is in a safe financial position. The Beneish M-Score is -3.28, which suggests that the company is not a manipulator.

Here is a summary of Remitly Global Inc's financial strength indicators:

Overall, Remitly Global Inc's financial strength indicators suggest a strong and stable financial position.

Remitly's sales growth is a remarkable story. Over the last three years, the company grew its sales at an incredible 42.9% compounded annual growth rate.

This is a testament to Remitly's offerings resonating with customers. The company's revenue growth is not a one-off event, but rather a sustained trend.

In the latest quarter, Remitly reported a wonderful year-on-year revenue growth of 39.3%, exceeding Wall Street's estimates by 5%. This growth is a significant achievement, and it's clear that the company is executing well.

Management is currently guiding for a 28.4% year-on-year increase next quarter, which is a promising sign for the company's future prospects.

Here are some key sales growth metrics for Remitly:

These numbers demonstrate Remitly's ability to drive sales growth, and it's an important factor to consider when evaluating the company's financial performance.

Inc stock in GBP is a significant metric for investors. It allows them to understand the value of their investment in pounds, making it easier to compare with other assets.

In 2022, the average price of an Inc stock in GBP was around £20. This is based on the historical data of the company's stock price in US dollars and the exchange rate at the time.

As the company's performance improved, the stock price in GBP also increased. By the end of 2022, the average price had risen to £25.

The exchange rate between the US dollar and the pound sterling had a significant impact on the price of Inc stock in GBP. A stronger pound meant a higher stock price in GBP.

Inc stock in GBP is a key indicator of the company's financial performance and can be used to make informed investment decisions.

Suggestion: Stock Exchange

Remitly stock has seen its fair share of ups and downs, with a previous close of $19.258.

The stock's day range has been between $19.015 and $19.502, indicating some volatility in the market.

Over the year, the stock's price has ranged from $8.927 to $19.477, a significant swing.

Remitly's market capitalization stands at an impressive $3,777,337,682.181.

The company's primary exchange is the NASDAQ.

Here's a summary of Remitly's key financial metrics:

Remitly's business model is built around providing affordable and convenient international money transfers. Remitly's fees are significantly lower than traditional banks, making it a popular choice for individuals and businesses alike.

Remitly's focus on speed and reliability has led to impressive growth, with the company processing over 600,000 transactions per day. This growth has also led to a significant increase in revenue, with Remitly's revenue increasing by 50% year-over-year.

Remitly's commitment to innovation has also led to the development of new products and services, including mobile money and cryptocurrency transfers.

Analyst opinions on Remitly Global (NASDAQ: RELY) have been overwhelmingly positive, with multiple analysts maintaining a "Buy" rating.

Analysts from JMP Securities LLC have consistently maintained a "Buy" rating, with a price target of $32 as of April 17, 2024.

Goldman Sachs also maintained a "Buy" rating, with a price target of $29 as of November 2, 2023.

Barclays Capital has a long history of maintaining a "Buy" rating, with a price target of $21 as of May 8, 2023.

BMO Capital Markets has also been bullish on Remitly, upgrading their rating to "Buy" on February 22, 2024, with a price target of $28.

Wolfe Research, however, has had a more mixed record, downgrading their rating to "Hold" on March 27, 2023, and then upgrading it back to "Buy" on August 4, 2023, with a price target of $28.

A list of analysts and their corresponding ratings is provided below:

As we explore the world of Remitly, let's take a closer look at the company's shareholder breakdown. The largest shareholder is the freefloat, holding a whopping 74.03% of the company.

The majority of the remaining shares are owned by Naspers Ltd., which holds a significant 18.85% stake. This is a notable holding, as Naspers is a well-established player in the global technology space.

Vanguard Group, Inc. is another major shareholder, with a 6.99% stake through its subfiler. This is a testament to the company's commitment to providing a broad range of investment options to its clients.

Cadian Capital Management LP also holds a substantial 6.36% stake, with another 6.36% held by the same entity. This suggests a strong presence of institutional investors in Remitly's ownership structure.

Other notable shareholders include Baillie Gifford & Co., which holds a 4.74% stake, and Generation Investment Management LLP, which holds a 3.88% stake. These investors bring a wealth of experience and expertise to the table.

Here's a breakdown of the top shareholders in Remitly:

BlackRock Fund Advisors and Vanguard Total Stock Market ETF also hold significant stakes in Remitly, with 2.75% and 2.34% respectively. These investors bring a wealth of experience and expertise to the table.

Remitly's active customers have been growing rapidly, increasing by 41.9% annually over the last two years.

This growth rate is among the fastest of any consumer internet business, indicating the platform's popularity is exploding.

Remitly added 1.89 million active customers in Q3, leading to 35% year-on-year growth.

However, the quarterly growth was lower than its two-year result, suggesting its new initiatives aren’t accelerating buyer growth just yet.

Remitly now has 7.3 million active customers, a key performance metric for the company.