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Flywire (FLYW) Gets a Buy from Raymond James

Raymond James analyst John Davis maintained a Buy rating on Flywire (FLYWResearch Report) today and set a price target of $28.00. The company’s shares closed yesterday at $18.98.

According to TipRanks, Davis is an analyst with an average return of -1.1% and a 47.28% success rate. Davis covers the Services sector, focusing on stocks such as Global Payments, Paypal Holdings, and Mastercard.

Flywire has an analyst consensus of Strong Buy, with a price target consensus of $29.20, a 53.85% upside from current levels. In a report released yesterday, Citigroup also maintained a Buy rating on the stock with a $24.00 price target.

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Based on Flywire’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $56.54 million and a GAAP net loss of $23.8 million. In comparison, last year the company earned a revenue of $36.98 million and had a GAAP net loss of $18.15 million

Based on the recent corporate insider activity of 114 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FLYW in relation to earlier this year. Most recently, in September 2022, Goldman Sachs Group Inc, a Director at FLYW sold 166,919.00 shares for a total of $4,489,849.92.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Flywire Corp provides a secure global payments platform, offering its clients an innovative and streamlined process to receive reconciled domestic and international payments in a more cost effective and efficient manner. The company’s solutions are built on three core elements namely a payments platform; a proprietary global payment network and vertical-specific software backed by its deep industry expertise.

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