Flywire (NASDAQ:FLYW) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Flywire (NASDAQ:FLYW) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. UBS Group upped their price target on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. New Street Research set a $16.00 price target on shares of Flywire in a report on Thursday. Weiss Ratings upgraded shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Royal Bank Of Canada boosted 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Flywire Stock Performance

NASDAQ FLYW opened at $16.16 on Wednesday. The stock has a market capitalization of $1.99 billion, a P/E ratio of 70.26, a P/E/G ratio of 1.13 and a beta of 1.30. Flywire has a 1 year low of $9.97 and a 1 year high of $18.05. The business’s fifty day moving average is $13.51 and its two-hundred day moving average is $13.38.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, research analysts forecast that Flywire will post 0.4 earnings per share for the current year.

Insider Activity

In other Flywire news, insider Mohit Kansal sold 16,101 shares of the business’s 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 sale, the insider directly owned 567,794 shares of the company’s stock, valued at $9,027,924.60. The trade was a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 37,921 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total transaction of $639,727.27. Following the sale, the director directly owned 234,493 shares in the company, valued at approximately $3,955,896.91. This trade represents a 13.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 114,511 shares of company stock valued at $1,859,470 in the last 90 days. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

Hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new position in shares of Flywire in the third quarter worth $1,253,000. GDS Wealth Management increased its stake in shares of Flywire by 9.0% in the third quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock worth $14,072,000 after acquiring an additional 85,411 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after acquiring an additional 1,150,802 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Flywire in the third quarter worth $1,354,000. Finally, Advisory Research Inc. acquired a new position in shares of Flywire in the third quarter worth $1,575,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.