Flywire (NASDAQ:FLYW) Trading Up 6.5%

Flywire Co. (NASDAQ:FLYW) shares traded up 6.5% on Thursday . The company traded as high as $18.50 and last traded at $18.42. 1,064,951 shares were traded during mid-day trading, a decline of 29% from the average session volume of 1,494,721 shares. The stock had previously closed at $17.29.

Wall Street Analysts Forecast Growth

FLYW has been the topic of several research reports. BTIG Research lowered their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group cut their price target on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft cut their price target on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of Flywire in a research note on Thursday, May 23rd. Finally, William Blair reissued an “outperform” rating on shares of Flywire in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Flywire Stock Down 0.9 %

The company has a market cap of $2.25 billion, a P/E ratio of -164.64, a PEG ratio of 5.47 and a beta of 0.98. The company has a 50 day moving average price of $17.44 and a 200-day moving average price of $19.89.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The business had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same period in the previous year, the company posted ($0.15) EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, research analysts expect that Flywire Co. will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FLYW. William Blair Investment Management LLC grew its stake in shares of Flywire by 125.1% in the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after purchasing an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA boosted its stake in Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after buying an additional 1,407,180 shares in the last quarter. Jennison Associates LLC boosted its stake in Flywire by 129.7% during the first quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock valued at $46,170,000 after buying an additional 1,050,924 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Flywire by 24.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after buying an additional 872,619 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Flywire during the second quarter valued at $12,642,000. Institutional investors own 95.90% of the company’s stock.

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.