Flywire (NASDAQ:FLYW) Raised to Neutral at JPMorgan Chase & Co.

Flywire (NASDAQ:FLYW) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday. The brokerage currently has a $16.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 0.57% from the stock’s previous close.

FLYW has been the subject of several other research reports. BTIG Research raised their target price on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. New Street Research set a $16.00 target price on shares of Flywire in a research note on Thursday. Citigroup raised their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $17.00 price target on shares of Flywire in a research report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Flywire Trading Up 0.5%

FLYW opened at $15.91 on Thursday. Flywire has a 12 month low of $9.97 and a 12 month high of $18.05. The company has a market cap of $1.96 billion, a PE ratio of 69.17, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30. The company has a 50 day moving average of $13.45 and a 200 day moving average of $13.36.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. Research analysts forecast that Flywire will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Flywire

In related news, Director Phillip John Riese sold 37,921 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Massaro sold 50,000 shares of Flywire stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total value of $819,500.00. Following the sale, the chief executive officer directly owned 2,766,035 shares of the company’s stock, valued at approximately $45,335,313.65. This trade represents a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 114,511 shares of company stock worth $1,859,470. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in Flywire in the 4th quarter worth $32,000. Covestor Ltd lifted its stake in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after acquiring an additional 2,216 shares during the last quarter. KBC Group NV purchased a new stake in Flywire during the 1st quarter valued at about $38,000. Leonteq Securities AG boosted its holdings in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Flywire during the 3rd quarter worth approximately $67,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

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.