Brokerages Set Flywire Corporation (NASDAQ:FLYW) Price Target at $18.29

Flywire Corporation (NASDAQ:FLYW) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.7692.

A number of research analysts have weighed in on FLYW shares. Raymond James Financial reissued an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, May 27th. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. UBS Group lifted their price objective on Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Zacks Research lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and upped their target price for the company from $14.00 to $16.00 in a report on Thursday, May 21st.

Flywire Stock Down 3.0%

Shares of NASDAQ FLYW opened at $18.13 on Wednesday. The firm has a 50-day simple moving average of $16.42 and a 200-day simple moving average of $14.11. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 78.83, a price-to-earnings-growth ratio of 1.91 and a beta of 1.32. Flywire has a 52 week low of $10.10 and a 52 week high of $18.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The firm had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same period last year, the firm posted ($0.03) earnings per share. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities research analysts expect that Flywire will post 0.28 EPS for the current year.

Insider Activity

In related news, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the completion of the sale, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mohit Kansal sold 54,543 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.15, for a total transaction of $826,326.45. Following the sale, the insider owned 504,320 shares of the company’s stock, valued at approximately $7,640,448. The trade was a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 410,391 shares of company stock worth $6,700,493. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors have recently made changes to their positions in the company. Essential Partners LLC increased its stake in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after acquiring an additional 1,571 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Flywire in the 4th quarter valued at $32,000. KBC Group NV acquired a new position in shares of Flywire in the 1st quarter valued at $38,000. Leonteq Securities AG grew its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.