Flywire’s (FLYW) “Outperform” Rating Reaffirmed at William Blair

William Blair reissued their outperform rating on shares of Flywire (NASDAQ:FLYW) in a report published on Wednesday, RTT News reports.

A number of other analysts also recently weighed in on FLYW. Royal Bank of Canada increased their price target on shares of Flywire from $36.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Flywire in a report on Tuesday, February 6th. They issued a buy rating and a $27.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of Flywire from $29.00 to $34.00 and gave the company a buy rating in a report on Wednesday, February 28th. Truist Financial upped their price target on shares of Flywire from $30.00 to $39.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Finally, Oppenheimer started coverage on Flywire in a report on Tuesday, January 23rd. They set an outperform rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $32.20.

Flywire Stock Down 16.1 %

FLYW stock opened at $17.24 on Wednesday. The business has a fifty day moving average of $23.36 and a 200-day moving average of $23.13. The company has a market cap of $2.12 billion, a P/E ratio of -191.53, a PEG ratio of 11.18 and a beta of 1.09. Flywire has a twelve month low of $15.77 and a twelve month high of $35.80.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $114.10 million for the quarter, compared to analyst estimates of $107.81 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities research analysts anticipate that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Flywire

In other news, COO Rob Orgel sold 17,150 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the completion of the sale, the chief operating officer now owns 468,285 shares of the company’s stock, valued at approximately $12,784,180.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Flywire news, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $255,691.80. Following the transaction, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 468,285 shares in the company, valued at approximately $12,784,180.50. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock worth $3,743,582 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Flywire in the first quarter valued at approximately $46,000. Quest Partners LLC bought a new stake in Flywire during the fourth quarter worth $52,000. RiverPark Advisors LLC boosted its position in Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock worth $74,000 after purchasing an additional 589 shares during the last quarter. Assetmark Inc. grew its stake in Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 shares during the period. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in shares of Flywire during the 4th quarter valued at $176,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Company Profile

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.