Bank of America just raised its EUR/USD forecast
BOSTON—Howard Gretchen, a director at Flywire Corp (NASDAQ:FLYW), recently acquired 8,889 shares of the company’s voting common stock, according to a filing with the Securities and Exchange Commission. The shares were purchased on February 27 at a weighted average price of $10.9391 per share, amounting to a total transaction value of approximately $97,237.
The shares were acquired in multiple transactions, with prices ranging from $10.935 to $10.94 per share. Following this acquisition, Gretchen’s direct ownership in the company increased to 30,770 shares. The transactions did not involve any equity swaps. According to InvestingPro analysis, the stock currently trades below its Fair Value, with strong liquidity metrics including a current ratio of 2.63.
This move reflects continued confidence in Flywire, a company known for its business services in the financial sector. Flywire, headquartered in Boston, provides global payment solutions and is listed on the NASDAQ exchange under the ticker FLYW. The company has demonstrated solid performance with revenue growth of 22% in the last twelve months, reaching $492 million. For deeper insights into Flywire’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, Flywire’s fourth-quarter earnings and forward guidance have prompted several analyst downgrades. The company’s earnings report revealed a shortfall in expectations, with guidance for 2025 revenue growth projected at 10-14%, below the anticipated 20% or more. This has led to a wave of downgrades from major firms. Goldman Sachs downgraded Flywire to Neutral and set a price target of $15, while Raymond (NSE:RYMD) James moved their rating from ’Strong Buy’ to ’Outperform’ with a price target of $17. JPMorgan also maintained a Neutral rating, lowering their price target to $16, and BTIG downgraded the stock to Neutral due to challenges in key markets like Canada and Australia.
UBS further downgraded Flywire from Buy to Neutral, reducing the price target to $15 from $25, citing the company’s revised revenue growth forecast as a key factor. Flywire’s strategic review and a 10% workforce reduction aim to address these challenges. Despite these downgrades, some analysts, like those at Raymond James, still see potential in Flywire’s valuation and growth prospects. The company is also focusing on its travel segment and recent acquisition of Sertifi as part of its strategy to navigate current market conditions.
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