Flywire Co. (NASDAQ:FLYW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Flywire Co. (NASDAQ:FLYW) has earned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $26.21.

FLYW has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BTIG Research dropped their price objective 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, 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 research note on Tuesday, August 20th.

Insiders Place Their Bets

In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction 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 of the company’s stock, valued at $4,934,246.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO David R. King sold 3,353 shares of the business’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 $60,488.12. Following the completion of the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the business’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 transaction, the general counsel now directly 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 sold a total of 26,966 shares of company stock valued at $480,143 over the last 90 days. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently modified their holdings of the company. Nebula Research & Development LLC acquired a new position in shares of Flywire during the fourth quarter valued at $1,082,000. Bullseye Asset Management LLC boosted its holdings in shares of Flywire by 123.4% during 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. boosted its holdings 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 valued at $249,124,000 after acquiring an additional 243,523 shares during the period. Gillson Capital LP boosted its holdings in shares of Flywire by 27.0% during the fourth 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 position in shares of Flywire during the first quarter valued at $4,274,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Down 1.4 %

Shares of FLYW stock opened at $15.72 on Thursday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -142.91, a price-to-earnings-growth ratio of 5.42 and a beta of 0.98. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.61. The firm’s 50 day moving average price is $17.51 and its two-hundred day moving average price is $18.57.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data 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). The firm had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) EPS. On average, equities analysts forecast that Flywire will post 0.06 EPS for the current fiscal 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.