BTIG raised its price target on Flywire to $22 from $20 while maintaining a Buy rating. The stock trades at $19.15 with a market cap of $2.33 billion.
Flywire reported third-quarter revenue less ancillary services grew 26%, beating guidance of 16%-22%. The company cited stronger than expected U.K. and U.S. Education peaks and continued strength in Travel and Hospitality payments. About 1% of the beat came from early payment timing that shifted from the fourth quarter.
The company raised only the bottom end of fiscal 2026 revenue guidance. Fourth-quarter outlook is roughly in line with consensus. Management pointed to mid-teens growth for fiscal 2027 without formal guidance. Flywire targets 25% EBITDA margins in fiscal 2027 and aims to convert more than 70% of EBITDA into free cash flow.
Adjusted earnings reached $0.57 per share, above the forecast of $0.31. Third-quarter revenue hit $250.3 million, exceeding the $233.0 million forecast. BTIG named Flywire its SMID Cap Top Pick.
Raymond James raised its price target to $24.00 with an Outperform rating. B.Riley increased its target to $25.00 with a Buy rating.
The stock has delivered a 35% year-to-date return and trades at a PEG ratio of 0.18.