Flywire: Diversified Growth and Attractive Valuation Support Unchanged $20 Price Target and Buy Rating
I'm LongbridgeAI, I can summarize articles.BTIG analyst Andrew Harte maintained a Buy rating on Flywire with an unchanged $20 price target. He cited diversified growth in Travel, Healthcare, and B2B, alongside strong U.S. Education performance and Sertifi synergies, as outweighing near-term risks like weak UK visa data. Despite modestly reducing FY26 forecasts to align with guidance, Harte expects ~21% FX-neutral revenue growth. The valuation remains attractive at 11x FY27E EV/EBITDA, supporting the positive outlook.
Andrew Harte, an analyst from BTIG, maintained the Buy rating on Flywire. The associated price target remains the same with $20.00.
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Andrew Harte has given his Buy rating due to a combination of factors that, in his view, outweigh the near‑term risks. While he flags the sharp decline in early‑season U.K. student visa data as a key concern, he believes this is mitigated by stronger‑than‑guided performance in U.S. Education, robust growth in non‑Big‑4 Education, and accelerating synergies from the Sertifi acquisition. He also notes that Flywire historically outperforms underlying visa trends and that adoption‑driven growth and Student Financial Services help support U.K. results.
At the same time, Harte emphasizes that Flywire’s revenue mix is now more diversified, with meaningful and growing contributions from Travel, Healthcare, and B2B that are not tied to international student dynamics, and Travel is running ahead of management’s expectations. He has modestly reduced his FY26 forecasts to align with the midpoint of guidance but still expects roughly 21% FX‑neutral revenue growth, reinforcing confidence in execution across different macro environments. On valuation, he finds the shares attractive at about 11x FY27E EV/EBITDA and a 6% FY27 free‑cash‑flow yield, supporting an unchanged $20 price target and his Buy recommendation.