Flywire shares rise after quarterly beat and guidance increase
Payments network Flywire's FLYW.O shares jumped as much as 9.2%, and were last up 6.1% at $18.31.
FLYW late Tuesday reported Q2 revenue above Wall Street estimates and boosted full-year guidance for revenue and adjusted EBITDA.
At least three brokerages raised price targets on FLYW following what analysts said was a solid quarter.
"We remain buyers of FLYW shares as we believe the company’s goal of $1 billion of revenue with 30% adjusted EBITDA margins will be achievable within 3 years," William Blair analyst Cristopher Kennedy said.
8 of 15 brokerages rate the stock "buy" or higher and 7 "hold"; median PT $20 — data compiled by LSEG.
As of last close, FLYW stock was up 21.9% year to date.
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