Flywire (FLYW) to Release Earnings on Tuesday

Flywire (NASDAQ:FLYW) will be releasing its earnings data after the market closes on Tuesday, November 7th. Analysts expect Flywire to post earnings of $0.10 per share for the quarter. Flywire has set its Q3 2023 guidance at EPS and its FY 2023 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $84.87 million during the quarter, compared to the consensus estimate of $73.53 million. Flywire had a negative return on equity of 5.35% and a negative net margin of 7.45%. The business’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) earnings per share. On average, analysts expect Flywire to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Flywire Trading Up 4.7 %

Shares of NASDAQ FLYW opened at $28.47 on Friday. The stock has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $30.76. The company has a market cap of $3.19 billion, a PE ratio of -123.78 and a beta of 1.19. Flywire has a 12-month low of $17.16 and a 12-month high of $35.80.

Insider Transactions at Flywire

In other news, General Counsel Peter Butterfield sold 11,232 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $28.60, for a total value of $321,235.20. Following the transaction, the general counsel now directly owns 146,145 shares of the company’s stock, valued at $4,179,747. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Michael G. Ellis sold 75,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $30.29, for a total value of $2,271,750.00. Following the completion of the sale, the chief financial officer now directly owns 246,345 shares in the company, valued at $7,461,790.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 11,232 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $28.60, for a total transaction of $321,235.20. Following the completion of the sale, the general counsel now owns 146,145 shares of the company’s stock, valued at $4,179,747. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,699 shares of company stock valued at $5,258,453. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Flywire

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in Flywire by 52.2% during the first quarter. Envestnet Asset Management Inc. now owns 9,655 shares of the company’s stock valued at $295,000 after acquiring an additional 3,312 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Flywire by 27.4% during the first quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock valued at $309,000 after purchasing an additional 2,182 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Flywire by 55.4% during the first quarter. MetLife Investment Management LLC now owns 34,947 shares of the company’s stock valued at $1,069,000 after purchasing an additional 12,461 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Flywire by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock valued at $154,082,000 after purchasing an additional 37,622 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Flywire in the first quarter valued at approximately $3,147,000. 92.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLYW. BTIG Research began coverage on Flywire in a research report on Thursday, September 28th. They issued a “buy” rating and a $37.00 target price for the company. Raymond James upped their target price on Flywire from $36.00 to $44.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 target price on shares of Flywire in a research report on Monday, October 9th. Stephens upped their target price on Flywire from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Finally, Citigroup upped their target price on Flywire from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $37.50.

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.