Flywire (NASDAQ:FLYW) Sees Large Volume Increase – Still a Buy?

Shares of Flywire Co. (NASDAQ:FLYW) saw unusually-strong trading volume on Thursday . Approximately 3,156,284 shares were traded during trading, an increase of 108% from the previous session’s volume of 1,516,164 shares.The stock last traded at $18.46 and had previously closed at $19.16.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FLYW shares. Raymond James raised their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Citigroup decreased their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research report on Thursday, January 9th. Finally, Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.36.

Flywire Stock Down 3.8 %

The business’s 50 day simple moving average is $20.82 and its two-hundred day simple moving average is $18.73. The stock has a market capitalization of $2.29 billion, a P/E ratio of 122.93, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.16. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $156.82 million for the quarter, compared to analyst estimates of $146.44 million. During the same period last year, the firm earned $0.08 earnings per share. Analysts predict that Flywire Co. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLYW. Westfield Capital Management Co. LP raised its position in Flywire by 19.3% in the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after acquiring an additional 1,006,516 shares during the period. Point72 Asset Management L.P. bought a new stake in Flywire in the second quarter worth about $12,642,000. Squarepoint Ops LLC bought a new stake in Flywire in the second quarter worth about $6,886,000. Invenomic Capital Management LP raised its position in Flywire by 100.6% in the third quarter. Invenomic Capital Management LP now owns 680,668 shares of the company’s stock worth $11,156,000 after acquiring an additional 341,411 shares during the period. Finally, FMR LLC raised its position in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after acquiring an additional 326,120 shares during the period. 95.90% of the stock is owned by institutional investors.

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.