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Flywire Stock: Poised for Robust Growth

Stock MarketsSep 23, 2021 03:31PM ET
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© Reuters. Flywire Stock: Poised for Robust Growth

Shares of Flywire (FLYW), have had a good week, gaining 5.5% over the past five trading days. The stock is up 21.1% over the past three months, approaching its 52-week high of $49.95.

The likelihood that shares will continue to rise is high, as the company fits the financial technology market's goal to grow very fast. Thus, I am bullish on this stock.

Based in Boston, Massachusetts, Flywire is a provider of digital payment services that enable businesses and consumers around the world to connect with each other. (See FLYW stock charts on TipRanks)

In the second quarter of 2021, total revenue was $37 million, up 56% year-over-year, thanks to a strong increase in total payment volume, topping analysts' projections by nearly $10 million.

Higher turnover was not enough, however, to offset specific non-cash charges associated with the initial public offering in May 2021, so the three-month period closed with a net loss of $18.1 million, compared to the year-ago net loss of $16 million.

Market Perspectives

During the quarter, the company observed important growth trends regarding the acquisition of new customers, showing the ability of Flywire to facilitate transactions between its clients and their customers.

Efficacious digital payment solutions in a booming market constitute a strong ground for Flywire's future prospects. A positive net income should be just around the corner, as the second-quarter report also made it clear that the costs for ancillary services tend to remain constant.

Looking ahead to full 2021, Flywire is targeting total revenue between $173 million and $178 million, and an adjusted EBITDA between $4 million and $6 million.

Wall Street’s Take

In the past three months, four Wall Street analysts have issued a 12-month price target for Flywire. The average Flywire price target is $47.50, implying 1.6% upside. The analyst rating consensus is a Strong Buy rating, based on four Buys.

Summary

Flywire offers solutions that facilitate transactions between businesses and customers around the world, and it operates in a market that is going to expand further.

In addition, the company serves sectors and markets that experience high rates of digitization.

Disclosure: At the time of publication, Alberto Abaterusso did not have a position in any of the securities mentioned in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

Flywire Stock: Poised for Robust Growth
 

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