Flywire (NASDAQ:FLYW) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Flywire (NASDAQ:FLYW) posted its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04, Zacks reports. Flywire had a net margin of 1.27% and a return on equity of 1.94%. The business’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share.

Flywire Stock Performance

Flywire stock traded up $0.38 on Tuesday, reaching $13.81. 3,385,013 shares of the stock were exchanged, compared to its average volume of 1,477,639. Flywire has a twelve month low of $8.20 and a twelve month high of $23.40. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.69 billion, a PE ratio of 276.20, a PEG ratio of 3.50 and a beta of 1.29. The firm has a fifty day moving average price of $13.23 and a two-hundred day moving average price of $11.80.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FLYW shares. Stephens reissued an “equal weight” rating and set a $13.00 target price on shares of Flywire in a research note on Monday, September 22nd. Truist Financial lifted their price target on Flywire from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 24th. Wall Street Zen upgraded Flywire from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Wolfe Research upgraded Flywire from a “peer perform” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Flywire currently has an average rating of “Hold” and an average price target of $14.04.

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently made changes to their positions in FLYW. Ameriprise Financial Inc. raised its stake in shares of Flywire by 430.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock valued at $15,088,000 after buying an additional 1,046,544 shares in the last quarter. Kent Lake PR LLC acquired a new position in Flywire in the second quarter worth about $4,849,000. Squarepoint Ops LLC raised its position in Flywire by 215.7% in the second quarter. Squarepoint Ops LLC now owns 463,077 shares of the company’s stock worth $5,418,000 after purchasing an additional 316,410 shares in the last quarter. HRT Financial LP raised its holdings in shares of Flywire by 1,029.0% in the 2nd quarter. HRT Financial LP now owns 331,218 shares of the company’s stock worth $3,875,000 after buying an additional 301,882 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Flywire in the 2nd quarter worth approximately $2,240,000. 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.