Flywire Co. (NASDAQ:FLYW) Given Average Recommendation of “Moderate Buy” by Analysts

Flywire Co. (NASDAQ:FLYW) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $26.21.

Several analysts have issued reports on FLYW shares. JPMorgan Chase & Co. raised their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup reduced their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, BTIG Research reduced their target price on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Flywire Price Performance

FLYW stock opened at $16.31 on Thursday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -148.27, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The company has a 50-day moving average of $17.42 and a two-hundred day moving average of $18.40. Flywire has a 52-week low of $15.19 and a 52-week high of $31.61.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same period last year, the business earned ($0.15) EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts expect that Flywire will post 0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael Massaro sold 8,629 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 value of $155,667.16. Following the completion of the transaction, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 1,769 shares of the 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 sale, the general counsel now directly owns 273,517 shares in the company, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flywire

Large investors have recently modified their holdings of the stock. William Blair Investment Management LLC raised its position in Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock valued at $269,486,000 after acquiring an additional 100,704 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Flywire by 10.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock valued at $120,018,000 after acquiring an additional 450,760 shares during the period. Capital International Investors boosted its holdings in Flywire by 21.8% in 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 during the last quarter. Finally, Primecap Management Co. CA increased its position in Flywire by 253.3% in the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after purchasing an additional 1,407,180 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.