Analysts Set Flywire Corporation (NASDAQ:FLYW) PT at $19.38

Flywire Corporation (NASDAQ:FLYW) has earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $19.3846.

A number of equities analysts have weighed in on FLYW shares. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Citigroup reissued a “neutral” rating on shares of Flywire in a research note on Thursday, August 6th. Finally, B. Riley Financial upped their price target on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Flywire Price Performance

Flywire stock opened at $17.47 on Friday. The stock has a market capitalization of $2.16 billion, a PE ratio of 67.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.34. Flywire has a 12 month low of $10.55 and a 12 month high of $18.98. The business has a 50 day simple moving average of $16.74 and a 200-day simple moving average of $14.45.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%.The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts anticipate that Flywire will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 6,528 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.08, for a total transaction of $98,442.24. Following the completion of the sale, the general counsel directly owned 652,152 shares in the company, valued at approximately $9,834,452.16. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Kansal sold 3,650 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $16.96, for a total value of $61,904.00. Following the transaction, the insider directly owned 500,670 shares of the company’s stock, valued at $8,491,363.20. The trade was a 0.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 304,889 shares of company stock worth $4,958,590 in the last quarter. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Flywire in the 4th quarter valued at $32,000. Essential Partners LLC grew its holdings in shares of 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 buying an additional 1,571 shares in the last quarter. KBC Group NV purchased a new stake in shares of Flywire during the first quarter worth $38,000. Leonteq Securities AG grew its holdings in shares of Flywire by 267.6% during 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 in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.