Flywire (NASDAQ:FLYW) Announces Quarterly Earnings Results

Flywire (NASDAQ:FLYW) posted its earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04, Zacks reports. Flywire had a net margin of 1.27% and a return on equity of 1.94%. The firm had revenue of $194.10 million during the quarter, compared to analysts’ expectations of $180.07 million. During the same quarter in the prior year, the firm earned $0.30 EPS. Flywire’s quarterly revenue was up 27.6% on a year-over-year basis.

Flywire Trading Up 3.1%

Shares of NASDAQ:FLYW traded up $0.43 during mid-day trading on Wednesday, hitting $14.24. The stock had a trading volume of 2,292,386 shares, compared to its average volume of 2,383,231. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $1.74 billion, a PE ratio of 283.72, a P/E/G ratio of 3.50 and a beta of 1.29. Flywire has a 12-month low of $8.20 and a 12-month high of $23.40. The company’s 50 day moving average is $13.25 and its 200-day moving average is $11.83.

Institutional Investors Weigh In On Flywire

Hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its position in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Flywire in the 2nd quarter valued at approximately $119,000. Prudential Financial Inc. purchased a new stake in shares of Flywire in the 2nd quarter valued at approximately $184,000. Tower Research Capital LLC TRC lifted its position in shares of Flywire by 164.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,372 shares of the company’s stock valued at $215,000 after acquiring an additional 11,436 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Flywire in the 1st quarter valued at approximately $271,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

FLYW has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Flywire from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Wolfe Research reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Flywire in a research note on Wednesday. The Goldman Sachs Group upped their price target on shares of Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $15.50 price target on shares of Flywire in a research note on Wednesday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $13.00 price target on shares of Flywire in a research note on Monday, September 22nd. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.73.

About Flywire

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.