Flywire Corporation (NASDAQ:FLYW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Flywire Corporation (NASDAQ:FLYW) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.00.

A number of research firms have weighed in on FLYW. Raymond James Financial reiterated an “outperform” rating and set a $21.00 target price on shares of Flywire in a report on Wednesday, May 6th. New Street Research set a $16.00 price target on Flywire in a research report on Thursday. The Goldman Sachs Group reissued a “neutral” rating and issued a $17.00 price target on shares of Flywire in a research report on Wednesday, May 6th. Wall Street Zen raised Flywire from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $16.12 on Tuesday. Flywire has a 1 year low of $9.97 and a 1 year high of $18.05. The company has a market cap of $1.99 billion, a PE ratio of 70.09, a P/E/G ratio of 1.11 and a beta of 1.30. The stock’s 50-day moving average is $13.65 and its 200 day moving average is $13.42.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. Analysts expect that Flywire will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Phillip John Riese sold 37,921 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the sale, the director directly owned 234,493 shares of the company’s stock, valued at $3,955,896.91. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mohit Kansal sold 16,101 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $15.90, for a total value of $256,005.90. Following the completion of the sale, the insider directly owned 567,794 shares in the company, valued at approximately $9,027,924.60. This represents a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 114,511 shares of company stock valued at $1,859,470. 4.40% of the stock is owned by company insiders.

Institutional Trading of Flywire

A number of hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new position in Flywire in the 3rd quarter valued at approximately $1,253,000. Jennison Associates LLC lifted its position in Flywire by 35.2% in the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after acquiring an additional 1,150,802 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Flywire in the 3rd quarter valued at approximately $1,354,000. Advisory Research Inc. bought a new position in Flywire in the 3rd quarter valued at approximately $1,575,000. Finally, Promus Capital LLC bought a new position in Flywire in the 3rd quarter valued at approximately $1,000,000. 95.90% of the stock is owned by institutional investors.

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.