Flywire Co. (NASDAQ:FLYW) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $34.27.

FLYW has been the subject of several recent research reports. Morgan Stanley lowered Flywire from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $27.00 to $30.00 in a research report on Friday, March 1st. Royal Bank of Canada lifted their price target on Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Citigroup dropped their price target on Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group lifted their price target on Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th.

Flywire Trading Down 1.7 %

Shares of FLYW stock opened at $20.43 on Thursday. Flywire has a 12-month low of $18.65 and a 12-month high of $35.80. The stock’s 50-day moving average price is $24.21 and its 200-day moving average price is $24.09. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -227.00, a price-to-earnings-growth ratio of 8.10 and a beta of 1.02.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The firm had revenue of $100.55 million for the quarter, compared to analysts’ expectations of $88.52 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue was up 37.6% compared to the same quarter last year. As a group, research analysts predict that Flywire will post 0.05 EPS for the current fiscal year.

Insider Activity at Flywire

In related news, CTO David R. King sold 9,366 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the sale, the chief technology officer now owns 621,568 shares in the company, valued at $16,968,806.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO David R. King sold 9,366 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the sale, the chief technology officer now owns 621,568 shares in the company, valued at $16,968,806.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rob Orgel sold 17,150 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $468,195.00. Following the completion of the transaction, the chief operating officer now directly owns 468,285 shares of the company’s stock, valued at approximately $12,784,180.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,800 shares of company stock worth $3,743,582. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of large investors have recently bought and sold shares of the business. American International Group Inc. raised its stake in Flywire by 1.6% in the fourth quarter. American International Group Inc. now owns 26,969 shares of the company’s stock worth $660,000 after buying an additional 420 shares in the last quarter. Amalgamated Bank increased its position in shares of Flywire by 3.3% during the fourth quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after purchasing an additional 486 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Flywire by 2.7% during the third quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock worth $609,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System increased its position in shares of Flywire by 2.1% during the third quarter. Arizona State Retirement System now owns 24,802 shares of the company’s stock worth $791,000 after purchasing an additional 501 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Flywire by 5.6% during the first quarter. Commonwealth Equity Services LLC now owns 11,116 shares of the company’s stock worth $326,000 after purchasing an additional 586 shares in the last quarter. Institutional investors own 95.90% 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, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.