Q3 2024 EPS Estimates for Flywire Co. (NASDAQ:FLYW) Decreased by B. Riley

Flywire Co. (NASDAQ:FLYW) – Research analysts at B. Riley lowered their Q3 2024 EPS estimates for shares of Flywire in a report released on Wednesday, October 2nd. B. Riley analyst H. Goetsch now anticipates that the company will post earnings of $0.17 per share for the quarter, down from their previous forecast of $0.28. B. Riley currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Flywire’s current full-year earnings is $0.06 per share. B. Riley also issued estimates for Flywire’s FY2025 earnings at $0.32 EPS.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same period in the prior year, the company posted ($0.15) EPS. Flywire’s quarterly revenue was up 22.2% on a year-over-year basis.

Several other analysts also recently issued reports on FLYW. Royal Bank of Canada cut their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company decreased their price objective on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. BTIG Research cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.21.

Flywire Stock Up 3.4 %

Shares of Flywire stock opened at $16.41 on Thursday. Flywire has a 12-month low of $15.19 and a 12-month high of $31.61. The firm has a market capitalization of $2.04 billion, a PE ratio of -149.18, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. The stock’s fifty day moving average is $17.46 and its 200-day moving average is $18.55.

Institutional Investors Weigh In On Flywire

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

Insider Activity

In related news, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Flywire news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares of the company’s stock, valued at $10,674,730.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO David R. King sold 3,353 shares of the stock in a transaction dated 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 in the company, valued at approximately $11,188,119.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 in the last three months. 3.90% of the stock is owned by insiders.

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.