Flywire Co. (NASDAQ:FLYW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.27.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. William Blair restated an “outperform” rating on shares of Flywire in a research note on Wednesday, February 28th. Royal Bank of Canada upped their price target on shares of Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Flywire in a research note on Tuesday, February 6th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Morgan Stanley lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $27.00 to $30.00 in a research note on Friday, March 1st.

Flywire Stock Down 1.3 %

Shares of FLYW opened at $20.93 on Thursday. The company has a 50 day moving average of $24.26 and a two-hundred day moving average of $24.19. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -232.53, a price-to-earnings-growth ratio of 8.21 and a beta of 1.02. Flywire has a twelve month low of $18.65 and a twelve month high of $35.80.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The firm had revenue of $100.55 million during the quarter, compared to analysts’ expectations of $88.52 million. During the same quarter last year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 37.6% on a year-over-year basis. On average, sell-side analysts expect that Flywire will post 0.05 EPS for the current year.

Insider Activity

In related news, Director Phillip John Riese sold 50,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the sale, the director now directly owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Phillip John Riese sold 50,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the sale, the director now directly owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rob Orgel sold 17,150 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $468,195.00. Following the sale, the chief operating officer now directly owns 468,285 shares in the company, valued at $12,784,180.50. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock valued at $3,743,582 in the last ninety days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. lifted its holdings in Flywire by 1.6% during the fourth quarter. American International Group Inc. now owns 26,969 shares of the company’s stock valued at $660,000 after purchasing an additional 420 shares in the last quarter. Amalgamated Bank lifted its holdings in Flywire by 3.3% during the fourth quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock valued at $353,000 after purchasing an additional 486 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Flywire by 2.7% during the third quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock valued at $609,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System lifted its holdings in Flywire by 2.1% during the third quarter. Arizona State Retirement System now owns 24,802 shares of the company’s stock valued at $791,000 after purchasing an additional 501 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Flywire by 5.6% during the first quarter. Commonwealth Equity Services LLC now owns 11,116 shares of the company’s stock valued at $326,000 after purchasing an additional 586 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.