Citizens Sees Remitly Global (RELY) as a Premier Digital Remittance Platform

Remitly Global, Inc. (NASDAQ:RELY) ranks among the best stocks under $25 to buy now. On December 11, Citizens reaffirmed its Market Outperform rating and $20 price target on Remitly Global, Inc. (NASDAQ:RELY), noting the company’s leading role in the digital remittance industry. The firm believes Remitly Global, Inc. (NASDAQ:RELY) shares were overcorrected before the company’s Investor Day on account of immigration-related headlines, slowing revenue growth, and concerns regarding the introduction of small-dollar lending products.

Even with these hurdles, Citizens emphasizes Remitly’s position as the premier all-digital remittance vendor, with huge upside potential and plans to achieve industry-leading profitability in the long run.

During the Investor Day event, Remitly Global, Inc. (NASDAQ:RELY) announced its growth plans through 2028, with revenue expected to grow in the high teens and adjusted EBITDA between $300 million and $320 million by 2026. Remitly Global, Inc. (NASDAQ:RELY) also estimates revenue to range between $2.6 billion and $3.0 billion in 2028, with Adjusted EBITDA of $575 million to $600 million, representing a margin of 20-22%.

Remitly Global, Inc. (NASDAQ:RELY) is a financial technology and payments company that provides digital financial services with its cross-border payments app that facilitates money transfers in more than 170 countries around the world.

While we acknowledge the potential of RELY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RELY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.