Shares of Flywire (FLYW), have had a good week, gaining 5.5% over the past five trading days. This stock is now up 21.1% in the past three month and closes to $49.95 for its 52-week peak.

As the company is in line with the goal of the financial market to grow rapidly, there’s a high chance that shares will rise. Therefore, I’m bullish about this stock.

Flywire is an international provider of digital payments services. It’s headquartered in Boston, Massachusetts. (See FLYW stock charts on TipRanks)

In the second quarter of 2021, total revenue was $37 million, up 56% year-over-year, thanks to a strong increase in total payment volume, topping analysts’ projections by nearly $10 million.

The higher turnover, however, was insufficient to cover the specific charges associated to the initial public offer in May 2021. Therefore, the period of three months ended with a loss of $18.1million, which is a significant improvement on the $16 million loss the previous year.

Market Perspectives

During the quarter, the company observed important growth trends regarding the acquisition of new customers, showing the ability of Flywire to facilitate transactions between its clients and their customers.

Flywire has strong prospects because of its ability to provide efficient digital payments solutions in a growing market. Positive net income could be within reach, given that Flywire’s second-quarter report made clear that the costs of ancillary service tend to stay constant.

Flywire has set a full 2021 target for total revenue of $173 million to $178 million with adjusted EBITDA at $4 million to $6 million.

Wall Street’s Take

In the past three months, four Wall Street analysts have issued a 12-month price target for Flywire. Flywire’s average price target of $47.50 indicates a 1.6% upside. Based on four Buys, the analyst consensus rating is Strong Buy.

Summary

Flywire offers solutions that facilitate transactions between businesses and customers around the world, and it operates in a market that is going to expand further.

Flywire also serves markets and sectors that are experiencing high digitization rates.

Disclosure: Alberto Abaterusso had no position at the time this article was published.

Disclaimer: Information in this article does not necessarily reflect those of TipRanks. TipRanks cannot guarantee the reliability, completeness or accuracy of any information. This article is not intended to be interpreted as an offer or recommendation for the purchase or sale of securities. The article does not provide legal, financial, investment, or professional advice. It also doesn’t take into consideration the individual needs or requirements. Neither is the information contained in it a complete or comprehensive statement about the subject or issues discussed. TipRanks, its affiliates, disclaim any liability or responsibility in relation to the content. You are responsible for your actions based upon the articles. TipRanks and its affiliates do not endorse or recommend this link. The past performance of TipRanks or its affiliates is not an indication of future prices, results, or performances.