Flywire Corporation (NASDAQ:FLYW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Flywire Corporation (NASDAQ:FLYW) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $18.0714.

FLYW has been the subject of several research analyst reports. Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. UBS Group lifted their price objective on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reissued a “neutral” rating and set a $17.00 price objective on shares of Flywire in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Morgan Stanley lifted their price objective on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th.

Insider Buying and Selling at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 6,528 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.08, for a total transaction of $98,442.24. Following the sale, the general counsel owned 652,152 shares in the company, valued at $9,834,452.16. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mohit Kansal sold 54,543 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.15, for a total value of $826,326.45. Following the sale, the insider owned 504,320 shares in the company, valued at $7,640,448. The trade was a 9.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 406,741 shares of company stock valued at $6,638,589. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA purchased a new stake in Flywire during the first quarter valued at about $137,000. Essential Partners LLC raised its position in Flywire by 219.1% during 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 in the last quarter. California State Teachers Retirement System raised its position in Flywire by 42.4% during the first quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock valued at $1,706,000 after purchasing an additional 43,651 shares in the last quarter. Quantinno Capital Management LP raised its position in Flywire by 49.8% during the first quarter. Quantinno Capital Management LP now owns 238,849 shares of the company’s stock valued at $2,780,000 after purchasing an additional 79,368 shares in the last quarter. Finally, ABS Direct Equity Fund LLC raised its position in Flywire by 9.4% during the first quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company’s stock valued at $4,074,000 after purchasing an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Stock Performance

NASDAQ:FLYW opened at $16.58 on Friday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 72.09, a P/E/G ratio of 1.59 and a beta of 1.34. Flywire has a 52-week low of $10.10 and a 52-week high of $18.05. The stock has a fifty day moving average of $15.13 and a 200 day moving average of $13.67.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. Equities analysts forecast that Flywire will post 0.28 earnings per share for the current fiscal year.

Flywire Company Profile

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.