Added to YB: 2024-09-09
Pitch date: 2024-09-07
RELY [bullish]
Remitly Global, Inc.
+8.05%
current return
Author Info
@CCM_Brett shares stock ideas on his Twitter account and Chit Chat Stocks podcast. Follow the podcast on Spotify/Apple.
Company Info
Remitly Global, Inc. engages in the provision of digital financial services in the United States, Canada, and internationally.
Market Cap
$3.1B
Pitch Price
$13.42
Price Target
67.40 (+360%)
Dividend
N/A
EV/EBITDA
45.64
P/E
155.44
EV/Sales
1.70
Sector
Financial Services
Category
growth
Remitly: A High-Growth Remittance Play with 3-5x Potential
RELY: Remittance co w/ 7M customers, 2.5% mkt share. 51% send vol CAGR since 2019. -ve margins, but 15-20% op margin potential in 3-5yrs. Founder-led, mission-focused. Proj 20% rev growth to 2030, 15% op margin. $500M op earnings by 2030. 3-5x upside from $2.65B mkt cap. Risks: unit economics, competition. Downside protected by recurring customers.
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