Flywire (NASDAQ:FLYW) Rating Reiterated by William Blair

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a research note issued on Wednesday, RTT News reports.

Other analysts also recently issued reports about the company. UBS Group boosted their price target on Flywire from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Flywire in a report on Tuesday, February 6th. They set a “buy” rating and a $27.00 target price on the stock. Oppenheimer began coverage on Flywire in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Citigroup reduced their price target on Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $31.60.

Flywire Stock Up 2.6 %

FLYW opened at $17.68 on Wednesday. Flywire has a 12-month low of $15.77 and a 12-month high of $35.80. The business has a 50 day moving average of $23.15 and a 200-day moving average of $23.10. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -196.42, a PEG ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $114.10 million for the quarter, compared to analyst estimates of $107.81 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, analysts expect that Flywire will post 0.03 earnings per share for the current year.

Insider Transactions at Flywire

In related news, CTO David R. King sold 9,366 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the transaction, the chief technology officer now directly owns 621,568 shares in the company, valued at approximately $16,968,806.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the transaction, the chief executive officer now owns 1,655,673 shares in the company, valued at $39,852,049.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO David R. King sold 9,366 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the sale, the chief technology officer now directly owns 621,568 shares in the company, valued at approximately $16,968,806.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,800 shares of company stock valued at $3,743,582. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in Flywire during the 1st quarter valued at approximately $46,000. Quest Partners LLC acquired a new stake in shares of Flywire during the fourth quarter worth $52,000. RiverPark Advisors LLC raised its stake in Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock worth $74,000 after buying an additional 589 shares during the last quarter. Assetmark Inc. lifted its holdings in Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after buying an additional 733 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in Flywire during the 4th quarter worth about $176,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.