Flywire Co. (NASDAQ:FLYW) Receives Average Rating of “Buy” from Analysts

Shares of Flywire Co. (NASDAQ:FLYWGet Rating) have been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $41.91.

FLYW has been the topic of several research reports. Sumitomo Mitsui Financial Group started coverage on Flywire in a research note on Wednesday. They issued an “outperform” rating and a $40.00 target price on the stock. The Goldman Sachs Group lowered their price target on Flywire from $44.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, April 8th. Wells Fargo & Company started coverage on Flywire in a research report on Monday, April 4th. They set an “overweight” rating and a $41.00 price target on the stock. Raymond James raised Flywire from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $48.00 to $39.00 in a research report on Tuesday, February 1st. Finally, Royal Bank of Canada lowered their price target on Flywire from $51.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd.

In other Flywire news, COO Rob Orgel sold 20,000 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $31.13, for a total value of $622,600.00. Following the transaction, the chief operating officer now directly owns 126,019 shares of the company’s stock, valued at approximately $3,922,971.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Massaro sold 26,792 shares of the company’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $29.13, for a total value of $780,450.96. Following the completion of the transaction, the chief executive officer now directly owns 1,158,779 shares in the company, valued at $33,755,232.27. The disclosure for this sale can be found here. Insiders have sold a total of 111,132 shares of company stock worth $3,210,134 over the last three months.

Several large investors have recently added to or reduced their stakes in FLYW. Morgan Stanley bought a new stake in shares of Flywire during the 2nd quarter valued at $858,000. Bank of America Corp DE bought a new stake in shares of Flywire during the 2nd quarter worth $280,000. Strs Ohio bought a new stake in shares of Flywire during the 3rd quarter worth $122,000. New York State Common Retirement Fund lifted its position in shares of Flywire by 101.4% during the 3rd quarter. New York State Common Retirement Fund now owns 36,535 shares of the company’s stock worth $1,602,000 after buying an additional 18,390 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in shares of Flywire during the 3rd quarter worth $597,000. Hedge funds and other institutional investors own 64.27% of the company’s stock.

NASDAQ FLYW opened at $29.79 on Friday. The stock’s 50 day moving average price is $27.97 and its two-hundred day moving average price is $35.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.78 and a current ratio of 3.78. Flywire has a 52 week low of $22.38 and a 52 week high of $57.41.

Flywire (NASDAQ:FLYWGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The business had revenue of $51.39 million during the quarter, compared to analysts’ expectations of $41.16 million. The company’s revenue was up 54.7% on a year-over-year basis. Analysts anticipate that Flywire will post -0.13 earnings per share for the current year.

About Flywire (Get Rating)

Flywire Corporation operates as a payment 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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

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Analyst Recommendations for Flywire (NASDAQ:FLYW)

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