Flywire Co. (NASDAQ:FLYW) Receives $34.27 Average Target Price from Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.20.

A number of brokerages have weighed in on FLYW. Oppenheimer initiated coverage on Flywire in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research note on Wednesday. Citigroup reduced their target price on Flywire from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada lowered their target price on Flywire from $41.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday.

Flywire Stock Performance

Shares of FLYW opened at $17.24 on Monday. The stock has a market capitalization of $2.12 billion, a PE ratio of -188.53, a P/E/G ratio of 11.18 and a beta of 1.09. Flywire has a 1 year low of $15.77 and a 1 year high of $35.80. The company’s 50-day simple moving average is $23.59 and its 200-day simple moving average is $23.17.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts predict that Flywire will post 0.03 earnings per share for the current year.

Insider Transactions at Flywire

In other Flywire news, CTO David R. King sold 9,366 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the transaction, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares in the company, valued at $16,968,806.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Phillip John Riese sold 50,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total value of $1,320,500.00. Following the transaction, the director now owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock valued at $3,743,582 over the last three months. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in Flywire during the first quarter worth $46,000. Quest Partners LLC bought a new stake in shares of Flywire during the fourth quarter worth approximately $52,000. RiverPark Advisors LLC grew its position in shares of Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after purchasing an additional 589 shares during the last quarter. Assetmark Inc. lifted its holdings in Flywire by 16.9% during the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after purchasing an additional 733 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Flywire in the 4th quarter valued at $176,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.