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

Shares of Flywire Co. (NASDAQ:FLYW) have been assigned a consensus rating of “Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $36.69.

FLYW has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Flywire from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada increased their target price on shares of Flywire from $34.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Stephens upped their price objective on Flywire from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Truist Financial upped their target price on shares of Flywire from $35.00 to $40.00 in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company lifted their price objective on Flywire from $39.00 to $41.00 in a report on Friday, June 2nd.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $32.82 on Wednesday. The stock’s 50-day simple moving average is $31.83 and its two-hundred day simple moving average is $29.69. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -142.69 and a beta of 1.13. Flywire has a 52-week low of $17.16 and a 52-week high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $84.87 million for the quarter, compared to analysts’ expectations of $73.53 million. Flywire had a negative net margin of 7.45% and a negative return on equity of 5.35%. The company’s revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. As a group, equities analysts forecast that Flywire will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Flywire

In other news, CTO David R. King sold 996 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $32.51, for a total transaction of $32,379.96. Following the transaction, the chief technology officer now owns 377,658 shares in the company, valued at approximately $12,277,661.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Flywire news, COO Rob Orgel sold 19,065 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $29.67, for a total transaction of $565,658.55. Following the completion of the sale, the chief operating officer now directly owns 267,875 shares in the company, valued at approximately $7,947,851.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO David R. King sold 996 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $32.51, for a total value of $32,379.96. Following the completion of the transaction, the chief technology officer now directly owns 377,658 shares of the company’s stock, valued at $12,277,661.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 526,858 shares of company stock valued at $16,451,031. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Flywire by 58.7% during the second quarter. BlackRock Inc. now owns 6,055,457 shares of the company’s stock worth $187,961,000 after buying an additional 2,239,940 shares during the period. Fred Alger Management LLC boosted its stake in shares of Flywire by 438.7% in the first quarter. Fred Alger Management LLC now owns 2,456,799 shares of the company’s stock valued at $72,132,000 after buying an additional 2,000,717 shares in the last quarter. Capital International Investors purchased a new stake in Flywire during the second quarter worth about $55,050,000. Vanguard Group Inc. grew its stake in Flywire by 29.0% in the 3rd quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock valued at $167,179,000 after acquiring an additional 1,635,222 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Flywire by 165.7% during the fourth quarter. GW&K Investment Management LLC now owns 2,178,521 shares of the company’s stock valued at $53,309,000 after acquiring an additional 1,358,639 shares during the last quarter. 92.55% of the stock is owned by hedge funds and other 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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.