Research Analysts Set Expectations for Flywire Co.’s Q3 2024 Earnings (NASDAQ:FLYW)

Flywire Co. (NASDAQ:FLYW) – Analysts at B. Riley lowered their Q3 2024 earnings estimates for Flywire in a research report issued to clients and investors on Wednesday, October 2nd. B. Riley analyst H. Goetsch now expects that the company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.28. B. Riley has a “Buy” rating and a $30.00 price target 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.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company dropped 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. Deutsche Bank Aktiengesellschaft cut their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. BTIG Research cut their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Citigroup lowered their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

Flywire Trading Down 1.4 %

FLYW stock opened at $15.72 on Thursday. The firm has a 50-day moving average price of $17.51 and a 200-day moving average price of $18.57. Flywire has a 12 month low of $15.19 and a 12 month high of $31.61. The stock has a market capitalization of $1.95 billion, a P/E ratio of -142.91, a price-to-earnings-growth ratio of 5.42 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. Flywire’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS.

Insider Buying and Selling

In other Flywire news, CTO David R. King sold 3,504 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the sale, the chief technology officer now directly owns 616,680 shares in the company, valued at approximately $10,674,730.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO David R. King sold 3,504 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the sale, the chief technology officer now owns 616,680 shares in the company, valued at approximately $10,674,730.80. The sale 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 Flywire stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock valued at $480,143 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Flywire during the second quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Flywire in the 1st quarter valued at about $46,000. Daiwa Securities Group Inc. acquired a new position in Flywire during the 2nd quarter worth approximately $64,000. Advisors Asset Management Inc. boosted its holdings in Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after acquiring an additional 954 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Flywire in the second quarter valued at approximately $180,000. 95.90% of the stock is owned by institutional investors.

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.