Analysts Set Flywire Corporation (NASDAQ:FLYW) Price Target at $18.29

Shares of Flywire Corporation (NASDAQ:FLYW) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.7692.

FLYW has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. New Street Research set a $16.00 price target on Flywire in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a report on Wednesday, May 27th. Finally, UBS Group raised their target price on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th.

Flywire Trading Down 3.1%

FLYW stock opened at $17.47 on Wednesday. The firm has a 50 day moving average of $16.47 and a 200-day moving average of $14.16. The firm has a market capitalization of $2.16 billion, a P/E ratio of 75.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.32. Flywire has a 12 month low of $10.10 and a 12 month high of $18.98.

Flywire (NASDAQ:FLYW) last posted its earnings results 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. The business had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Sell-side analysts predict that Flywire will post 0.28 EPS for the current year.

Insider Transactions at Flywire

In related 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. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Massaro sold 50,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares in the company, valued at $40,867,058.26. This trade represents a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 410,391 shares of company stock worth $6,700,493. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Hedge funds have recently bought and sold shares of the company. Essential Partners LLC grew 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 acquiring an additional 1,571 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Flywire in the 4th quarter worth approximately $32,000. KBC Group NV purchased a new stake in shares of Flywire in the 1st quarter valued at $38,000. Leonteq Securities AG grew its holdings in shares of 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 purchasing an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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.