Wall Street Zen Upgrades Flywire (NASDAQ:FLYW) to Buy

Flywire (NASDAQ:FLYW) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities research analysts have also commented on FLYW. Citigroup cut their price target on shares of Flywire from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. Zacks Research upgraded shares of Flywire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. Morgan Stanley initiated coverage on shares of Flywire in a research report on Tuesday. They issued an “equal weight” rating and a $15.00 price target for the company. Finally, UBS Group decreased their price target on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Flywire has a consensus rating of “Hold” and a consensus price target of $15.50.

Flywire Trading Down 4.3%

Shares of FLYW stock opened at $12.31 on Friday. The company has a market cap of $1.50 billion, a P/E ratio of 123.11, a PEG ratio of 1.43 and a beta of 1.28. The firm has a fifty day moving average price of $12.97 and a 200 day moving average price of $13.23. Flywire has a 12 month low of $8.20 and a 12 month high of $15.25.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The company had revenue of $157.54 million during the quarter, compared to the consensus estimate of $144.96 million. During the same period in the previous year, the business earned ($0.12) EPS. Flywire’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, equities analysts forecast that Flywire will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Flywire news, Director Phillip John Riese sold 16,612 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the sale, the director directly owned 234,493 shares in the company, valued at approximately $3,536,154.44. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter Butterfield sold 13,327 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total value of $200,038.27. Following the completion of the sale, the general counsel directly owned 374,933 shares in the company, valued at $5,627,744.33. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders acquired 251,112 shares of company stock worth $3,477,834 and sold 38,426 shares worth $567,215. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in the business. Voss Capital LP lifted its stake in Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after buying an additional 2,080,202 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Flywire by 43.8% in the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock worth $68,367,000 after acquiring an additional 1,470,011 shares during the last quarter. Divisadero Street Capital Management LP raised its holdings in shares of Flywire by 178.0% in the second quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock worth $55,980,000 after acquiring an additional 3,063,518 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after acquiring an additional 1,150,802 shares in the last quarter. Finally, Mangrove Partners IM LLC raised its stake in Flywire by 2.8% in the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after purchasing an additional 82,383 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.