Professional
Added to YB: 2023-11-02
Pitch date: 2023-11-02
RELY [bullish]
Remitly Global, Inc.
+13.17%
current return
Author Info
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Company Info
Remitly Global, Inc., a cross-border payment company engages in the provision of digital financial services in the United States, Canada, and internationally.
Market Cap
$4.8B
Pitch Price
$19.06
Price Target
50.44 (+134%)
Dividend
N/A
EV/EBITDA
44.75
P/E
73.52
EV/Sales
2.72
Sector
Financial Services
Category
growth
Adding to our $RELY position
RELY Q3: Rev $241.6M +43% YoY, slight beat. Net loss $35.7M vs $33.1M YoY, miss due to non-cash SBC. Adj EBITDA $10.5M vs $(3.7)M YoY. Focused on growth spend despite market pressure for profits. ~Breakeven cash burn, $400M+ liquidity, no debt. Huge scalable opportunity still early. Mgmt won't let market dictate strategy. Added at $20, now ~6% of port. PT $50.44, bullish.
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