Flywire Analysts Slash Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Flywire Corporation reported Q3 earnings of 8 cents per share, compared to a loss of 4 cents per share a year ago. The company's revenue was $123.3 million, slightly above estimates. Flywire also announced the acquisition of StudyLink, a provider of international student admissions software. However, following the earnings announcement, several analysts including Raymond James, Goldman Sachs, Wells Fargo, and Truist Securities lowered their price targets on Flywire. The company's shares fell 26.9% to trade at $20.23.
November 08, 2023 | 6:23 pm
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NEGATIVE IMPACT
Despite reporting a profitable Q3 and acquiring StudyLink, Flywire's shares fell significantly after several analysts lowered their price targets on the company.
Flywire's Q3 results were positive with a reported profit and revenue beating estimates. The acquisition of StudyLink also indicates potential growth. However, the lowered price targets from several analysts likely contributed to the significant drop in Flywire's share price. This suggests that despite the positive earnings, the market may have had higher expectations for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100