Flywire (NASDAQ:FLYW) Given “Buy” Rating at B. Riley

B. Riley reissued their buy rating on shares of Flywire (NASDAQ:FLYW) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $30.00 price target on the stock. B. Riley also issued estimates for Flywire’s Q3 2024 earnings at $0.17 EPS, Q4 2024 earnings at $0.01 EPS, FY2024 earnings at $0.02 EPS and FY2025 earnings at $0.32 EPS.

FLYW has been the topic of a number of other reports. BTIG Research reduced their price target on shares of Flywire from $27.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a neutral rating in a report on Tuesday, August 20th. Royal Bank of Canada dropped their price target on Flywire from $34.00 to $25.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Citigroup decreased their price objective on Flywire from $27.00 to $25.00 and set a buy rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price target on shares of Flywire from $25.00 to $20.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $26.21.

Flywire Price Performance

NASDAQ FLYW opened at $16.41 on Wednesday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -149.18, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. Flywire has a 12 month low of $15.19 and a 12 month high of $31.61. The company’s fifty day moving average price is $17.46 and its two-hundred day moving average price is $18.55.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The firm had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same quarter in the previous year, the business posted ($0.15) EPS. Flywire’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that Flywire will post 0.06 EPS for the current year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,966 shares of company stock valued at $480,143. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FLYW. Norges Bank acquired a new stake in shares of Flywire during the 4th quarter valued at about $10,130,000. Capital International Investors raised its position in Flywire by 21.8% during the fourth quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after acquiring an additional 485,654 shares in the last quarter. Sompo Asset Management Co. Ltd. acquired a new stake in Flywire in the fourth quarter valued at approximately $337,000. Seven Eight Capital LP bought a new stake in Flywire in the fourth quarter worth approximately $1,666,000. Finally, Azora Capital LP bought a new stake in Flywire in the fourth quarter worth approximately $7,507,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.