Flywire’s (FLYW) Neutral Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Flywire (NASDAQ:FLYW) in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have a $18.00 price target on the stock.

Several other research firms also recently weighed in on FLYW. Wells Fargo & Company lowered their price target on shares of Flywire from $35.00 to $30.00 and set an overweight rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Flywire from $29.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. UBS Group lowered their price target on shares of Flywire from $34.00 to $26.00 and set a buy rating for the company in a research note on Wednesday, May 8th. William Blair reissued an outperform rating on shares of Flywire in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada dropped their target price on shares of Flywire from $41.00 to $34.00 and set an outperform rating for the company in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $30.40.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $18.33 on Thursday. Flywire has a 52-week low of $15.77 and a 52-week high of $35.80. The firm has a fifty day moving average of $21.10 and a 200 day moving average of $22.29. The firm has a market capitalization of $2.28 billion, a PE ratio of -166.62, a price-to-earnings-growth ratio of 23.33 and a beta of 1.09.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $114.10 million during the quarter, compared to analysts’ expectations of $107.81 million. Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. On average, sell-side analysts forecast that Flywire will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flywire news, General Counsel Peter Butterfield sold 4,730 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the sale, the general counsel now directly owns 214,678 shares in the company, valued at $5,860,709.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Flywire news, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the transaction, the chief executive officer now owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 4,730 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 $129,129.00. Following the transaction, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. Insiders sold 141,800 shares of company stock worth $3,743,582 over the last three months. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in FLYW. Headlands Technologies LLC bought a new position in shares of Flywire during the first quarter valued at approximately $46,000. Quest Partners LLC bought a new position in shares of Flywire during the fourth quarter valued at approximately $52,000. RiverPark Advisors LLC increased its stake in shares of Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after purchasing an additional 589 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after acquiring an additional 954 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after acquiring an additional 733 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

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.