Flywire (NASDAQ:FLYW) Stock Rating Reaffirmed by B. Riley

Flywire (NASDAQ:FLYW)‘s stock had its “buy” rating restated by research analysts at B. Riley in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $30.00 target price on the stock. B. Riley’s target price would suggest a potential upside of 88.21% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada decreased their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. BTIG Research reduced their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock 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 for the company in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Flywire has an average rating of “Moderate Buy” and an average target price of $26.21.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $15.94 on Wednesday. Flywire has a 1 year low of $15.19 and a 1 year high of $31.95. The company has a market capitalization of $1.98 billion, a P/E ratio of -144.91, a P/E/G ratio of 5.42 and a beta of 0.98. The company has a 50 day simple moving average of $17.54 and a 200-day simple moving average of $18.59.

Flywire (NASDAQ:FLYW) last released its quarterly 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 company had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $100.30 million. During the same period last year, the firm posted ($0.15) earnings per share. Flywire’s revenue was up 22.2% on a year-over-year basis. As a group, research analysts expect that Flywire will post 0.06 EPS for the current year.

Insider Buying and Selling at Flywire

In other news, COO Rob Orgel sold 4,552 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares of the company’s stock, valued at approximately $8,613,594.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Flywire news, COO Rob Orgel sold 4,552 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 $82,118.08. Following the sale, the chief operating officer now owns 477,472 shares of the company’s stock, valued at $8,613,594.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 1,769 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 transaction of $31,912.76. Following the completion of the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock worth $480,143 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several hedge funds have recently made changes to their positions in FLYW. Nebula Research & Development LLC acquired a new stake in shares of Flywire in the 4th quarter valued at about $1,082,000. Bullseye Asset Management LLC boosted its holdings in shares of Flywire by 123.4% in the fourth quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock valued at $2,276,000 after acquiring an additional 54,306 shares during the period. Vanguard Group Inc. grew its position in shares of Flywire by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after acquiring an additional 243,523 shares during the last quarter. Gillson Capital LP increased its holdings in shares of Flywire by 27.0% in the 4th quarter. Gillson Capital LP now owns 265,775 shares of the company’s stock valued at $6,153,000 after acquiring an additional 56,428 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in Flywire during the 1st quarter worth $4,274,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.