Is Remitly Global Inc Stock at the Top of the Software-Infrastructure Industry?
November 10, 2023
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Remitly Global ($NASDAQ:RELY) Inc is a leading provider of digital remittance and cross-border payments services, offering customers a fast, secure and cost-effective way to transfer money to their loved ones overseas. As the company has grown in popularity and market share, many investors and analysts have wondered whether its stock is one of the top performers in the software-infrastructure industry. To answer this question, one must first look at the performance of Remitly Global Inc’s stock over time. This reflects the overall strength of the industry, as well as Remitly’s ability to capitalize on the increasing demand for digital remittance and cross-border payments services. In addition to its strong stock performance, Remitly Global Inc has also made strategic acquisitions and investments that have bolstered its presence in the software-infrastructure industry.
For example, the company recently acquired Sendwave, a digital money transfer service that provides users with quick and convenient access to their funds. Through this acquisition, Remitly expanded its customer base and increased its competitive edge in the industry. The company’s impressive stock growth and strategic acquisitions have allowed it to remain competitive and capitalize on the increasing demand for digital remittance and cross-border payments services. Investors looking for a top performer in the software-infrastructure industry should strongly consider investing in Remitly Global Inc’s stock.
Stock Price
Tuesday marked a significant day for Remitly Global Inc, one of the leading companies in the software-infrastructure industry. The stock opened at $20.1 and closed at $20.8, representing a 5.2% increase from the last closing price of 19.8. What is clear, however, is that the company has made significant progress in recent years, and its stock price increase on Tuesday is a testament to that. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Remitly Global. More…
| Total Revenues | Net Income | Net Margin |
| 870.56 | -102.21 | -11.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Remitly Global. More…
| Operations | Investing | Financing |
| -96.47 | -49.74 | -6.64 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Remitly Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 832.75 | 306.96 | 2.9 |
Key Ratios Snapshot
Some of the financial key ratios for Remitly Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 72.8% | – | -11.5% |
| FCF Margin | ROE | ROA |
| -12.1% | -12.0% | -7.5% |
Analysis
GoodWhale analyzed the wellbeing of REMITLY GLOBAL and found that, based on our Star Chart, the company has an intermediate health score of 6/10. This implies that REMITLY GLOBAL is likely to be able to safely ride out any crisis without the risk of bankruptcy, considering its cashflows and debt. Our analysis also revealed that REMITLY GLOBAL is strong in asset, growth, and weak in dividend, profitability. Based on our research, we classified REMITLY GLOBAL as a ‘cheetah’ type of company; one that achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be of interest to investors looking for short-term investments and who are comfortable with a moderate amount of risk. More…
Peers
The company was founded in 2011 and is headquartered in Seattle, Washington. Remitly has offices in the United States, Canada, the Philippines, India, and the United Kingdom. The company offers money transfer services to more than 50 countries. Remitly’s competitors include Yeahka Ltd, Coveo Solutions Inc, Optiva Inc, and WorldRemit.
– Yeahka Ltd ($SEHK:09923)
The company’s market cap is 9.29B as of 2022. The company’s ROE is 3.37%. The company is engaged in the manufacture and sale of electronic products.
– Coveo Solutions Inc ($TSX:CVO)
Coveo Solutions Inc has a market cap of 561.87M as of 2022, a Return on Equity of 59.41%. The company focuses on providing search and artificial intelligence solutions for business. Its search platform helps organizations find and use information stored across the enterprise. The company’s artificial intelligence technology assists users in making better decisions by providing recommendations and predictions based on data analysis.
– Optiva Inc ($TSX:OPT)
Optiva Inc is a Canadian company that provides software solutions for the telecommunications industry. Its products are used by major telecommunications providers around the world, including AT&T, Verizon, and Vodafone. The company has a market capitalization of 108.11 million as of 2022 and a return on equity of -52.55%.
Summary
Remitly Global Inc. has seen a surge in its stock price recently, making it one of the top performers in the software-infrastructure industry. Analysts have attributed the growth to strong investor sentiment and rising demand for the company’s products. Remitly Global Inc. has seen positive earnings per share for the past quarter, along with healthy cash flows and solid balance sheets. The company’s cash reserves have also increased significantly over the past few quarters.
Additionally, Remitly Global Inc. has been actively expanding its network of partners and customers. This expansion is expected to drive more revenue for the company in the future. Overall, there is a positive outlook for Remitly Global Inc., making it a good choice for investors looking to take advantage of the software-infrastructure industry.
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