In a report released today, Jeff Cantwell from Wells Fargo maintained a Buy rating on Flywire (FLYW – Research Report), with a price target of $28.00. The company’s shares closed last Thursday at $21.31, close to its 52-week low of $14.56.
According to TipRanks.com, Cantwell is a 5-star analyst with an average return of 10.4% and a 62.0% success rate. Cantwell covers the Technology sector, focusing on stocks such as TELUS International (CDA), Fidelity National Info, and Bill.com Holdings.
Flywire has an analyst consensus of Strong Buy, with a price target consensus of $31.00, representing a 40.9% upside. In a report released today, Goldman Sachs also upgraded the stock to Buy with a $30.00 price target.
Based on Flywire’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $64.55 million and GAAP net loss of $10.15 million. In comparison, last year the company earned revenue of $44.99 million and had a GAAP net loss of $8.65 million.
Based on the recent corporate insider activity of 78 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.
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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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