Brokerages Set Flywire Co. (NASDAQ:FLYW) PT at $15.15

Shares of Flywire Co. (NASDAQ:FLYW) have been given an average rating of “Hold” by the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $15.15.

Several brokerages recently issued reports on FLYW. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $15.00 in a report on Wednesday, February 26th. Wolfe Research restated a “peer perform” rating on shares of Flywire in a research note on Wednesday, April 23rd. B. Riley restated a “buy” rating and issued a $17.00 price objective (down from $29.00) on shares of Flywire in a report on Friday, May 2nd. Finally, Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th.

Insider Activity at Flywire

In related news, Director Edwin J. Santos sold 5,000 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 16,990 shares in the company, valued at $178,395. The trade was a 22.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Flywire during the fourth quarter worth about $35,579,000. Wellington Management Group LLP acquired a new stake in Flywire in the 1st quarter worth approximately $15,782,000. Voss Capital LP purchased a new stake in Flywire during the 4th quarter worth approximately $30,621,000. Federated Hermes Inc. purchased a new stake in shares of Flywire during the first quarter valued at $11,733,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Flywire in the 4th quarter valued at $24,363,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Trading Down 0.8%

NASDAQ FLYW opened at $10.79 on Tuesday. The stock has a market cap of $1.31 billion, a PE ratio of 71.93, a PEG ratio of 1.41 and a beta of 1.27. Flywire has a 12 month low of $8.20 and a 12 month high of $23.40. The company’s 50-day moving average price is $10.00 and its 200-day moving average price is $14.62.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. As a group, sell-side analysts forecast that Flywire will post 0.14 earnings per share for the current year.

Flywire Company Profile

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.