Flywire Co. (NASDAQ:FLYW) Receives $15.62 Average PT from Analysts

Shares of Flywire Co. (NASDAQ:FLYW) have been given an average rating of “Hold” by the fifteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.62.

A number of brokerages have weighed in on FLYW. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. B. Riley restated a “buy” rating and issued a $17.00 price objective (down previously from $29.00) on shares of Flywire in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and dropped their price objective for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. Raymond James cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Finally, Morgan Stanley dropped their price objective on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gretchen Howard bought 8,889 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.94 per share, with a total value of $97,245.66. Following the transaction, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after acquiring an additional 781,711 shares during the last quarter. Jennison Associates LLC grew its holdings in Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. Voss Capital LP grew its holdings in Flywire by 97.6% during the 1st quarter. Voss Capital LP now owns 2,934,986 shares of the company’s stock worth $27,882,000 after acquiring an additional 1,449,986 shares during the last quarter. Geode Capital Management LLC grew its holdings in Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after acquiring an additional 28,944 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in Flywire by 62.1% during the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after acquiring an additional 1,049,888 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 0.3%

Shares of Flywire stock opened at $11.36 on Friday. Flywire has a 1-year low of $8.20 and a 1-year high of $23.40. The firm has a fifty day simple moving average of $9.68 and a 200-day simple moving average of $15.89. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $128.70 million during the quarter, compared to the consensus estimate of $124.18 million. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts predict that Flywire will post 0.14 earnings per share for the current year.

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.