Flywire Corporation (NASDAQ:FLYW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Flywire Corporation (NASDAQ:FLYW) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $18.2857.

Several analysts recently weighed in on FLYW shares. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. The Goldman Sachs Group raised their target price on Flywire from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. BTIG Research lifted their target price on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th.

Flywire Price Performance

NASDAQ:FLYW opened at $17.59 on Wednesday. Flywire has a one year low of $10.10 and a one year high of $18.92. The company has a market cap of $2.17 billion, a PE ratio of 76.48, a P/E/G ratio of 1.82 and a beta of 1.32. The firm’s 50 day simple moving average is $16.36 and its 200 day simple moving average is $14.02.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company’s revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. Equities research analysts expect that Flywire will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other Flywire news, COO Rob Orgel sold 178,980 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the sale, the chief operating officer owned 959,061 shares of the company’s stock, valued at approximately $16,304,037. This represents a 15.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Massaro sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 410,391 shares of company stock valued at $6,700,493 over the last three months. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Several large investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Flywire during the fourth quarter worth $32,000. Essential Partners LLC boosted its position in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the last quarter. KBC Group NV acquired a new stake in Flywire during the 1st quarter worth about $38,000. Leonteq Securities AG grew its holdings in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after acquiring an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.