Truist Financial Initiates Coverage on Flywire (NASDAQ:FLYW)

Truist Financial initiated coverage on shares of Flywire (NASDAQ:FLYW) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $12.00 target price on the stock.

FLYW has been the subject of several other research reports. Royal Bank of Canada dropped their price objective on shares of Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Wolfe Research reaffirmed a “peer perform” rating on shares of Flywire in a report on Wednesday, April 23rd. Finally, B. Riley reaffirmed a “buy” rating and set a $17.00 price objective (down previously from $29.00) on shares of Flywire in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.15.

Flywire Stock Up 0.4%

NASDAQ:FLYW opened at $10.79 on Monday. Flywire has a 12-month low of $8.20 and a 12-month high of $23.40. The firm has a market capitalization of $1.31 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The firm has a 50-day moving average price of $9.85 and a 200 day moving average price of $15.19.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. On average, research analysts expect that Flywire will post 0.14 EPS for the current year.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. The trade was a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Flywire

A number of institutional investors have recently bought and sold shares of FLYW. Global Retirement Partners LLC acquired a new stake in Flywire during the 4th quarter worth $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire during the 4th quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire during the 4th quarter worth $77,000. KBC Group NV grew its holdings in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in Flywire during the 4th quarter worth $104,000. Institutional investors and hedge funds 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.