Flywire (NASDAQ:FLYW) Rating Increased to Neutral at JPMorgan Chase & Co.

Flywire (NASDAQ:FLYW) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Thursday. The firm presently has a $16.00 target price on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.57% from the company’s current price.

FLYW has been the subject of several other research reports. UBS Group increased their price objective on Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. The Goldman Sachs Group restated a “neutral” rating and set a $17.00 target price on shares of Flywire in a report on Wednesday, May 6th. Citigroup lifted their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. BTIG Research raised their target price on shares of Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Flywire currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Flywire Stock Up 0.5%

Shares of Flywire stock opened at $15.91 on Thursday. The company’s fifty day simple moving average is $13.45 and its two-hundred day simple moving average is $13.36. Flywire has a 12-month low of $9.97 and a 12-month high of $18.05. The firm has a market cap of $1.96 billion, a PE ratio of 69.17, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts expect that Flywire will post 0.4 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In other news, insider Mohit Kansal sold 16,101 shares of Flywire stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total transaction of $256,005.90. Following the completion of the transaction, the insider directly owned 567,794 shares in the company, valued at approximately $9,027,924.60. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip John Riese sold 37,921 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the sale, the director owned 234,493 shares in the company, valued at $3,955,896.91. The trade was a 13.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 114,511 shares of company stock worth $1,859,470. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Flywire

Several hedge funds have recently added to or reduced their stakes in FLYW. Global Retirement Partners LLC purchased a new position in shares of Flywire in the 4th quarter worth about $32,000. KBC Group NV bought a new stake in Flywire during the 1st quarter valued at about $38,000. Leonteq Securities AG raised its holdings in Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after buying an additional 2,577 shares during the last quarter. Covestor Ltd grew its holdings in shares of Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

About Flywire

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.