Flywire Corporation (NASDAQ:FLYW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Flywire Corporation (NASDAQ:FLYW) has been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.0714.

Several research analysts have weighed in on FLYW shares. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Truist Financial upped their target price on Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. UBS Group lifted their price objective on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Flywire in a research note on Wednesday, May 6th.

Flywire Price Performance

Shares of FLYW stock opened at $17.54 on Friday. Flywire has a fifty-two week low of $10.10 and a fifty-two week high of $18.05. The stock’s 50-day moving average is $15.31 and its two-hundred day moving average is $13.72. The firm has a market cap of $2.16 billion, a P/E ratio of 76.27, a PEG ratio of 1.72 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period in the prior year, the firm posted ($0.03) EPS. The business’s revenue was up 40.9% compared to the same quarter last year. As a group, research analysts expect that Flywire will post 0.28 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Peter Butterfield sold 6,528 shares of Flywire stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the sale, the general counsel owned 652,152 shares of the company’s stock, valued at approximately $9,834,452.16. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Massaro sold 50,000 shares of Flywire stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the completion of the sale, the chief executive officer directly owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 406,741 shares of company stock worth $6,638,589 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of the business. Glenmede Trust Co. NA acquired a new stake in shares of Flywire in the 1st quarter valued at $137,000. Essential Partners LLC raised its holdings in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after acquiring an additional 1,571 shares during the period. California State Teachers Retirement System raised its holdings in Flywire by 42.4% in the 1st quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock worth $1,706,000 after acquiring an additional 43,651 shares during the period. Quantinno Capital Management LP raised its holdings in Flywire by 49.8% in the 1st quarter. Quantinno Capital Management LP now owns 238,849 shares of the company’s stock worth $2,780,000 after acquiring an additional 79,368 shares during the period. Finally, ABS Direct Equity Fund LLC raised its holdings in Flywire by 9.4% in the 1st quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company’s stock worth $4,074,000 after acquiring an additional 30,000 shares during the period. Institutional investors and hedge funds 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.