Flywire Co. (NASDAQ:FLYW) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have received an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.86.

A number of equities analysts recently issued reports on the company. William Blair restated an “outperform” rating on shares of Flywire in a report on Wednesday, May 8th. Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of Flywire in a research note on Thursday, May 23rd. UBS Group decreased their target price on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company lowered their price target on Flywire from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Citigroup decreased their price objective on Flywire from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

Flywire Stock Performance

Shares of FLYW opened at $15.63 on Tuesday. Flywire has a one year low of $15.19 and a one year high of $35.80. The stock’s fifty day moving average is $17.65 and its 200-day moving average is $21.21. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -142.08, a price-to-earnings-growth ratio of 29.61 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $114.10 million for the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. Analysts forecast that Flywire will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Massaro sold 13,043 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the sale, the chief executive officer now owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its position in shares of Flywire by 3.3% in the fourth quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock valued at $353,000 after purchasing an additional 486 shares during the period. Primecap Management Co. CA lifted its position in Flywire by 2.7% during the 3rd quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock worth $609,000 after acquiring an additional 500 shares during the last quarter. RiverPark Advisors LLC boosted its holdings in Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after acquiring an additional 589 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Flywire by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after purchasing an additional 702 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after purchasing an additional 733 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.