William Blair analyst Christopher Kennedy has reiterated their bullish stance on RELY stock, giving a Buy rating on October 29.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Christopher Kennedy has given his Buy rating due to a combination of factors that suggest Remitly Global is poised for growth despite recent market reactions. The preliminary 2026 revenue guidance appears conservative, especially when considering the company’s historical performance and potential for expansion. Although the guidance anticipates minimal contributions from new initiatives and accounts for possible immigration-related challenges in North America, Remitly has shown resilience with strong year-to-date revenue growth in the U.S. and Canada.
Furthermore, the December quarter is expected to be a pivotal period for customer acquisition, which is crucial for driving future growth. The company plans to invest in marketing to increase customer acquisition, which should support revenue growth and maintain healthy EBITDA margins. Additionally, Remitly’s management is likely to focus on leveraging its scale and exploring opportunities in new geographies and product offerings, which could significantly enhance its market share in the vast cross-border P2P and B2B markets.
Kennedy covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Remitly Global, and Fidelity National Info. According to TipRanks, Kennedy has an average return of -7.2% and a 31.88% success rate on recommended stocks.