Flywire Corporation (NASDAQ:FLYW) Receives $19.38 Average Target Price from Analysts

Flywire Corporation (NASDAQ:FLYW) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $19.3846.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Citigroup reiterated a “neutral” rating on shares of Flywire in a research note on Thursday, August 6th. New Street Research set a $16.00 target price on shares of Flywire in a research report on Thursday, May 21st. Truist Financial restated a “hold” rating and issued a $17.00 target price (down from $18.00) on shares of Flywire in a research note on Friday, July 24th. Finally, Weiss Ratings downgraded Flywire from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 178,980 shares of Flywire stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the sale, the chief operating officer directly owned 959,061 shares in the company, valued at approximately $16,304,037. The trade was a 15.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Massaro sold 50,000 shares of the company’s 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 in the company, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 304,889 shares of company stock worth $4,958,590 in the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLYW. Royal Bank of Canada lifted its stake in Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after buying an additional 1,081 shares in the last quarter. Essential Partners LLC grew its holdings in shares of Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after purchasing an additional 1,571 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Flywire in the 4th quarter valued at approximately $32,000. Daiwa Securities Group Inc. grew its position in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares during the period. Finally, Leonteq Securities AG grew its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $18.24 on Friday. The business’s 50 day moving average is $16.87 and its two-hundred day moving average is $14.51. Flywire has a 1-year low of $10.55 and a 1-year high of $18.98. The stock has a market capitalization of $2.25 billion, a P/E ratio of 70.16, a PEG ratio of 1.12 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%.The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. During the same quarter last year, the business posted ($0.10) EPS. Flywire’s revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Flywire will post 0.4 earnings per share for the current fiscal year.

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.