Flywire Analysts Slash Their Forecasts After Q3 Results

Flywire Corporation FLYW posted a profit for its third quarter on Tuesday.

Flywire posted earnings of 8 cents per share for the third quarter, versus a year-ago loss of 4 cents per share. The company’s revenue came in at $123.3 million versus estimates of $122.07 million.

Flywire said it sees FY23 revenue of $394.1 million to $399.3 million, versus estimates of $385.17 million.

Flywire also said it has acquired StudyLink, an innovative provider of international student admissions, application and agent management software serving universities throughout Australia.

Flywire shares fell 26.9% to trade at $20.23 on Wednesday.

These analysts made changes to their price targets on Flywire following earnings announcement.

• Raymond James slashed the price target on Flywire from $44 to $35. Raymond James analyst John Davis maintained a Strong Buy rating.
• Goldman Sachs cut the price target on Flywire from $37 to $33. Goldman Sachs analyst Will Nance maintained a Buy rating.
• Wells Fargo lowered the price target on Flywire from $35 to $33. Wells Fargo analyst Jeff Cantwell maintained an Overweight rating.
• Truist Securities cut the price target on Flywire from $40 to $33. Truist Securities analyst Andrew Jeffrey maintained a Buy rating.

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