Flywire (NASDAQ:FLYW) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Flywire (NASDAQ:FLYW) from a hold rating to a buy rating in a report released on Saturday morning.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Flywire from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Zacks Research raised Flywire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Morgan Stanley initiated coverage on Flywire in a report on Tuesday. They set an “equal weight” rating and a $15.00 price target for the company. Finally, Citigroup lowered their price target on Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.50.

Flywire Stock Down 4.3%

Shares of FLYW opened at $12.31 on Friday. The business’s fifty day moving average is $12.97 and its 200 day moving average is $13.24. Flywire has a 12-month low of $8.20 and a 12-month high of $15.25. The stock has a market cap of $1.50 billion, a P/E ratio of 123.11, a P/E/G ratio of 1.37 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $105.56. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The firm had revenue of $157.54 million for the quarter, compared to the consensus estimate of $144.96 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The business’s revenue was up 34.0% on a year-over-year basis. On average, analysts expect that Flywire will post 0.14 EPS for the current year.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 13,327 shares of Flywire stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total value of $200,038.27. Following the sale, the general counsel owned 374,933 shares of the company’s stock, valued at approximately $5,627,744.33. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Voss Capital, Lp bought 25,000 shares of the company’s stock in a transaction on Friday, February 13th. The stock was bought at an average price of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the purchase, the insider owned 2,300,000 shares of the company’s stock, valued at approximately $25,277,000. The trade was a 1.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 251,112 shares of company stock valued at $3,477,834 and sold 38,426 shares valued at $567,215. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in Flywire in the first quarter valued at approximately $271,000. Millennium Management LLC raised its stake in shares of Flywire by 15.1% in the first quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock valued at $12,644,000 after buying an additional 175,007 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock valued at $11,792,000 after buying an additional 159,239 shares during the last quarter. CWM LLC lifted its position in shares of Flywire by 850.9% during the 2nd quarter. CWM LLC now owns 6,447 shares of the company’s stock valued at $75,000 after buying an additional 5,769 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock worth $38,000 after acquiring an additional 2,167 shares during the period. Institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

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.