Flywire (FLYW) Receives a Buy from Wells Fargo

In a report released today, Jeff Cantwell from Wells Fargo maintained a Buy rating on Flywire (FLYWResearch Report), with a price target of $30.00. The company’s shares closed yesterday at $25.03.

Cantwell covers the Services sector, focusing on stocks such as Paypal Holdings, Paymentus Holdings, and Global Payments. According to TipRanks, Cantwell has an average return of 10.1% and a 60.22% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Flywire with a $31.50 average 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 102 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. Earlier this month, Natauri Jo, a Director at FLYW sold 147,860.00 shares for a total of $3,527,611.74.

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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