Flywire Corporation (NASDAQ:FLYW) Stock Has Consensus Price Target of $20.23

Shares of Flywire Corporation (NASDAQ:FLYW) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.23.

FLYW has been the topic of several research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Flywire in a report on Wednesday. Truist Financial increased their price objective on shares of Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, August 14th. Citigroup restated a “neutral” rating on shares of Flywire in a research report on Thursday, August 6th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Wolfe Research upped their price target on shares of Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th.

Insider Buying and Selling at Flywire

In related news, major shareholder Voss Capital, Lp sold 44,768 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $18.78, for a total transaction of $840,743.04. Following the sale, the insider owned 11,069,321 shares in the company, valued at $207,881,848.38. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 12,156 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total value of $218,686.44. Following the sale, the general counsel owned 601,022 shares in the company, valued at $10,812,385.78. This represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 555,718 shares of company stock worth $10,554,333. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in FLYW. Wasatch Advisors LP bought a new stake in Flywire in the second quarter valued at approximately $44,026,000. Voss Capital LP raised its holdings in Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after purchasing an additional 2,080,202 shares during the last quarter. Jennison Associates LLC raised its holdings in Flywire by 19.9% during the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after purchasing an additional 878,248 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Flywire by 103.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company’s stock worth $14,499,000 after purchasing an additional 520,256 shares during the period. Finally, North Reef Capital Management LP lifted its position in shares of Flywire by 83.3% in the 1st quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock worth $12,804,000 after purchasing an additional 499,999 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Up 1.0%

NASDAQ:FLYW opened at $17.50 on Monday. Flywire has a twelve month low of $10.55 and a twelve month high of $19.73. The stock’s 50-day simple moving average is $17.79 and its 200 day simple moving average is $15.97. The firm has a market capitalization of $2.13 billion, a PE ratio of 67.31, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. On average, analysts anticipate that Flywire will post 0.4 EPS for the current fiscal year.

About Flywire

Flywire Corporation (NASDAQ: FLYW) is a global payments-enablement and software company that helps organizations accept, process and manage domestic and international payments. Its platform is designed to simplify complex payment workflows, support multiple currencies and payment methods, and provide customers with tools for reconciliation, reporting and payment tracking.

The company serves institutions and businesses in sectors including education, health care, travel and business-to-business payments.