Earnings Preview For Remitly Global

Remitly Global RELY will release its quarterly earnings report on Wednesday, 2024-10-30. Here's a brief overview for investors ahead of the announcement.

Analysts anticipate Remitly Global to report an earnings per share (EPS) of $-0.08.

Investors in Remitly Global are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.

It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.

Past Earnings Performance

Last quarter the company beat EPS by $0.05, which was followed by a 4.01% increase in the share price the next day.

Here's a look at Remitly Global's past performance and the resulting price change:

Stock Performance

Shares of Remitly Global were trading at $15.15 as of October 28. Over the last 52-week period, shares are down 45.09%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.

Analysts' Perspectives on Remitly Global

For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Remitly Global.

Analysts have provided Remitly Global with 4 ratings, resulting in a consensus rating of Outperform. The average one-year price target stands at $22.0, suggesting a potential 45.21% upside.

Comparing Ratings Among Industry Peers

The analysis below examines the analyst ratings and average 1-year price targets of Marqeta, Paymentus Holdings and Payoneer Global, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.

• Analysts currently favor an Buy trajectory for Marqeta, with an average 1-year price target of $7.67, suggesting a potential 49.37% downside.
• Analysts currently favor an Outperform trajectory for Paymentus Holdings, with an average 1-year price target of $24.5, suggesting a potential 61.72% upside.
• The consensus among analysts is an Buy trajectory for Payoneer Global, with an average 1-year price target of $9.06, indicating a potential 40.2% downside.

Summary of Peers Analysis

The peer analysis summary offers a detailed examination of key metrics for Marqeta, Paymentus Holdings and Payoneer Global, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

Key Takeaway:

Remitly Global ranks at the top for Revenue Growth and Gross Profit among its peers. However, it ranks at the bottom for Return on Equity.

Delving into Remitly Global's Background

Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. The company's revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company's currency purchases.

Financial Milestones: Remitly Global's Journey

Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.

Revenue Growth: Remitly Global's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 30.93%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.

Net Margin: Remitly Global's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -3.95%, the company may encounter challenges in effective cost control.

Return on Equity (ROE): Remitly Global's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -2.14%, the company may encounter challenges in delivering satisfactory returns for shareholders.

Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.19%, the company may need to address challenges in generating satisfactory returns from its assets.

Debt Management: Remitly Global's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.05.

To track all earnings releases for Remitly Global visit their earnings calendar on our site.

This article was generated by Benzinga's automated content engine and reviewed by an editor.