Oct. 24 at 6:24 PM
$FLYW My flyw target price for mid 2027 is
$34. Seems a lot but the starting point is dumb.
Sell side estimates are way too low (I'm 20% ahead of the small number of 27 rev ests out there), and as such so is their assessment of the company's growth rate potential, and therefore their target multiples are way low as well. Understandable as it's been a tough journey in recent years for anyone who has been positive. I have a clear head on it having engaged more recently although I'm big in the stock here. But I'm being rational and the analysts on the sell side have clouded judgement. Here's the thing the, why should a stock that is going to do 15% or so organic in a tough current year, and then do 20-23% organic going forward for a number of years, why should that trade at a fraction of mature fintechs? I mean CPAY is at 8x LTM ev/gp, FI at 7.6x. At maturity or upon acquisition FLYW gets those margins too. So 7x '27 GP yields
$34. It's been there before by the way.