Flywire (NASDAQ:FLYW) Raised to “Buy” at Wall Street Zen

Flywire (NASDAQ:FLYW) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other brokerages have also recently weighed in on FLYW. Citigroup reduced their price target on Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. Morgan Stanley raised Flywire from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $17.00 in a research report on Monday, March 2nd. The Goldman Sachs Group reduced their price target on Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $17.00 to $19.00 in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flywire in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Flywire has a consensus rating of “Hold” and a consensus target price of $16.18.

Flywire Stock Performance

FLYW opened at $13.61 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 136.11, a PEG ratio of 1.16 and a beta of 1.26. Flywire has a 1 year low of $8.51 and a 1 year high of $15.25. The stock has a fifty day moving average price of $12.04 and a 200 day moving average price of $13.06.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $105.56. The firm had revenue of $157.54 million during the quarter, compared to analysts’ expectations of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The business’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts forecast that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In other Flywire news, major shareholder Voss Capital, Lp acquired 25,000 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were acquired at an average cost of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the purchase, the insider owned 2,300,000 shares of the company’s stock, valued at approximately $25,277,000. This trade represents a 1.10% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the completion of the transaction, the general counsel owned 532,962 shares in the company, valued at $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GDS Wealth Management increased its stake in Flywire by 9.0% during the third quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock valued at $14,072,000 after acquiring an additional 85,411 shares during the period. CIBC Private Wealth Group LLC bought a new position in Flywire during the third quarter valued at about $1,253,000. BlueCrest Capital Management Ltd bought a new position in Flywire during the third quarter valued at about $1,354,000. Advisory Research Inc. bought a new position in Flywire during the third quarter valued at about $1,575,000. Finally, Promus Capital LLC bought a new position in Flywire during the third quarter valued at about $1,000,000. 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.