Flywire (NASDAQ:FLYW) Stock Rating Upgraded by Zacks Research

Flywire (NASDAQ:FLYW) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on FLYW. Raymond James Financial reissued an “outperform” rating and issued a $21.00 price objective on shares of Flywire in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 target price on shares of Flywire in a research note on Wednesday, May 6th. BTIG Research upped their target price on shares of Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and upped their target price for the company from $14.00 to $16.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Flywire Stock Up 1.6%

Flywire stock opened at $16.16 on Wednesday. Flywire has a 52-week low of $9.97 and a 52-week high of $18.05. The firm has a fifty day moving average of $13.51 and a 200-day moving average of $13.38. The firm has a market capitalization of $1.99 billion, a P/E ratio of 70.26, a PEG ratio of 1.13 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The business’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, research analysts expect that Flywire will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, Director Phillip John Riese sold 37,921 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,955,896.91. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Kansal sold 16,101 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total transaction of $256,005.90. Following the transaction, the insider owned 567,794 shares in the company, valued at $9,027,924.60. This trade represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 114,511 shares of company stock valued at $1,859,470 over the last ninety days. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLYW. Essential Partners LLC boosted its stake in Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the last quarter. Global Retirement Partners LLC bought a new position in Flywire during the 4th quarter valued at $32,000. KBC Group NV bought a new position in Flywire during the 1st quarter valued at $38,000. Leonteq Securities AG boosted its stake in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after acquiring an additional 2,216 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.