Remitly Global, Inc. (RELY) is experiencing significant growth and is well-positioned in the market.
From Yahoo Finance: 2025-06-24 13:36:00
Remitly Global, Inc. (RELY) is experiencing impressive growth, with active customers jumping from under 1 million to 8 million in five years. The company’s remittance volume has soared from $7 billion in 2019 to $59 billion in the last twelve months. Remitly is well-positioned in the digital remittance market.
At an enterprise value of $3.6 billion and a stock price of $19.96, Remitly is expected to generate over $900 million in gross profit this year. With 20% annual volume growth, the company could reach $500 million in EBIT by 2029. Regulatory concerns and competition are not seen as major threats to Remitly’s growth.
Despite recent depreciation in stock price, analysts view Remitly (RELY) as a high-conviction growth at a reasonable price (GARP) opportunity with significant upside potential. The company operates in a fragmented, under-digitized $1 trillion+ market. While 46 hedge funds held RELY at the end of Q1, other AI stocks may offer higher returns with limited downside risk.