FY2023 EPS Estimates for Flywire Co. Lifted by William Blair (NASDAQ:FLYW)

Flywire Co. (NASDAQ:FLYW) – Investment analysts at William Blair upped their FY2023 earnings per share estimates for shares of Flywire in a research report issued to clients and investors on Wednesday, November 8th. William Blair analyst R. Napoli now forecasts that the company will post earnings of $0.17 per share for the year, up from their prior forecast of ($0.18). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Flywire’s current full-year earnings is ($0.13) per share. William Blair also issued estimates for Flywire’s Q4 2023 earnings at ($0.02) EPS and FY2024 earnings at $0.42 EPS.

Several other equities research analysts also recently weighed in on FLYW. Morgan Stanley reduced their price target on shares of Flywire from $32.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Raymond James dropped their price target on shares of Flywire from $44.00 to $35.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 8th. Wells Fargo & Company lowered their target price on shares of Flywire from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of Flywire from $35.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, November 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Flywire from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $34.79.

Flywire Price Performance

Shares of FLYW opened at $19.89 on Monday. Flywire has a one year low of $18.65 and a one year high of $35.80. The company has a 50-day simple moving average of $29.30 and a two-hundred day simple moving average of $30.57. The firm has a market capitalization of $2.23 billion, a PE ratio of -180.80 and a beta of 1.19.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Flywire had a negative return on equity of 1.96% and a negative net margin of 2.92%. The firm had revenue of $123.32 million during the quarter, compared to the consensus estimate of $119.50 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year.

Insiders Place Their Bets

In other Flywire news, CEO Michael Massaro sold 11,457 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.70, for a total transaction of $351,729.90. Following the sale, the chief executive officer now directly owns 1,088,710 shares of the company’s stock, valued at approximately $33,423,397. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Michael G. Ellis sold 6,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $31.30, for a total transaction of $203,450.00. Following the completion of the transaction, the chief financial officer now owns 240,719 shares of the company’s stock, valued at $7,534,504.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 11,457 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $30.70, for a total transaction of $351,729.90. Following the completion of the sale, the chief executive officer now directly owns 1,088,710 shares of the company’s stock, valued at approximately $33,423,397. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,249 shares of company stock worth $5,171,355. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC bought a new stake in shares of Flywire during the third quarter worth $100,341,000. BlackRock Inc. lifted its holdings in shares of Flywire by 58.7% during the 2nd quarter. BlackRock Inc. now owns 6,055,457 shares of the company’s stock valued at $187,961,000 after purchasing an additional 2,239,940 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Flywire by 438.7% during the first quarter. Fred Alger Management LLC now owns 2,456,799 shares of the company’s stock worth $72,132,000 after acquiring an additional 2,000,717 shares during the period. Capital International Investors bought a new stake in Flywire in the 2nd quarter valued at $55,050,000. Finally, Vanguard Group Inc. lifted its position in Flywire by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock worth $167,179,000 after buying an additional 1,635,222 shares in the last quarter. Institutional investors own 92.55% of the company’s stock.

About Flywire

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.