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

Flywire Co. (NASDAQ:FLYW – Get Rating) has received an average rating of “Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $40.91.

FLYW has been the subject of several analyst reports. Raymond James lowered their price target on shares of Flywire from $39.00 to $33.00 in a report on Wednesday. The Goldman Sachs Group lowered their price target on shares of Flywire from $44.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, April 8th. Sumitomo Mitsui Financial Group initiated coverage on shares of Flywire in a report on Wednesday, April 13th. They set an “outperform” rating and a $40.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Flywire from $41.00 to $36.00 in a report on Wednesday. Finally, Royal Bank of Canada lowered their price target on shares of Flywire from $51.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd.

NASDAQ:FLYW opened at $19.40 on Thursday. The firm’s 50 day simple moving average is $28.27 and its 200 day simple moving average is $32.64. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.05. Flywire has a one year low of $19.14 and a one year high of $57.41.

Flywire (NASDAQ:FLYW – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $64.55 million for the quarter, compared to analyst estimates of $56.83 million. During the same quarter in the previous year, the company posted ($0.41) EPS. Flywire’s revenue for the quarter was up 43.5% compared to the same quarter last year. As a group, sell-side analysts expect that Flywire will post -0.13 EPS for the current fiscal year.

In other Flywire news, Director Phillip John Riese sold 5,000 shares of the business’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $31.16, for a total transaction of $155,800.00. Following the completion of the sale, the director now owns 7,292 shares in the company, valued at approximately $227,218.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Massaro sold 4,830 shares of the business’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $25.13, for a total transaction of $121,377.90. The disclosure for this sale can be found here. Insiders have sold a total of 100,505 shares of company stock valued at $2,946,937 in the last 90 days.

A number of hedge funds have recently made changes to their positions in FLYW. Morgan Stanley bought a new stake in Flywire during the 2nd quarter valued at $858,000. Bank of America Corp DE purchased a new position in Flywire during the 2nd quarter worth $280,000. New York State Common Retirement Fund boosted its holdings in 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 acquiring an additional 18,390 shares during the last quarter. Raymond James & Associates purchased a new position in Flywire during the 3rd quarter worth $597,000. Finally, Deutsche Bank AG purchased a new position in Flywire during the 3rd quarter worth $323,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Flywire Company Profile (Get Rating)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.

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