William Blair Equities Analysts Boost Earnings Estimates for Flywire Co. (NASDAQ:FLYW)

Flywire Co. (NASDAQ:FLYW – Get Rating) – Research analysts at William Blair lifted their Q2 2023 earnings per share estimates for Flywire in a report issued on Wednesday, May 10th. William Blair analyst R. Napoli now expects that the company will earn ($0.14) per share for the quarter, up from their prior forecast of ($0.15). The consensus estimate for Flywire’s current full-year earnings is ($0.14) per share. William Blair also issued estimates for Flywire’s FY2023 earnings at ($0.10) EPS.

Flywire (NASDAQ:FLYW – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.10. The business had revenue of $73.05 million during the quarter, compared to the consensus estimate of $65.50 million. Flywire had a negative return on equity of 8.31% and a negative net margin of 13.88%. The company’s revenue was up 42.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) earnings per share.

Several other equities research analysts also recently weighed in on the company. Truist Financial increased their price objective on Flywire from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 20th. Wells Fargo & Company increased their price target on Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. The Goldman Sachs Group increased their price target on Flywire from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, April 13th. Morgan Stanley began coverage on Flywire in a report on Monday, January 23rd. They set an “equal weight” rating and a $26.00 price target for the company. Finally, Bank of America increased their price target on Flywire from $32.00 to $36.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Flywire currently has an average rating of “Buy” and an average target price of $32.00.

Flywire Trading Up 0.2 %

FLYW stock opened at $29.58 on Friday. The company has a market capitalization of $3.25 billion, a P/E ratio of -98.60 and a beta of 1.15. Flywire has a twelve month low of $14.56 and a twelve month high of $30.96. The business has a 50 day simple moving average of $28.27 and a 200-day simple moving average of $25.15.

Insiders Place Their Bets

In other Flywire news, General Counsel Peter Butterfield sold 7,862 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $24.08, for a total value of $189,316.96. Following the completion of the transaction, the general counsel now owns 68,458 shares in the company, valued at $1,648,468.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Peter Butterfield sold 7,862 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $24.08, for a total value of $189,316.96. Following the completion of the transaction, the general counsel now owns 68,458 shares in the company, valued at $1,648,468.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael G. Ellis sold 6,500 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $26.23, for a total value of $170,495.00. Following the completion of the transaction, the chief financial officer now owns 105,246 shares of the company’s stock, valued at approximately $2,760,602.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,736 shares of company stock worth $5,600,100. 37.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its position in Flywire by 4.8% during the 1st quarter. Arizona State Retirement System now owns 9,074 shares of the company’s stock worth $266,000 after purchasing an additional 416 shares in the last quarter. American International Group Inc. increased its position in Flywire by 1.6% during the 4th quarter. American International Group Inc. now owns 26,969 shares of the company’s stock worth $660,000 after purchasing an additional 420 shares in the last quarter. Huntington National Bank increased its position in Flywire by 24.2% during the 4th quarter. Huntington National Bank now owns 2,292 shares of the company’s stock worth $56,000 after purchasing an additional 446 shares in the last quarter. Assetmark Inc. increased its position in Flywire by 15.1% during the 1st quarter. Assetmark Inc. now owns 3,516 shares of the company’s stock worth $103,000 after purchasing an additional 462 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Flywire by 1.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,306 shares of the company’s stock worth $1,565,000 after purchasing an additional 583 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Flywire Company Profile

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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.