Flywire (NASDAQ:FLYW) Issues Quarterly Earnings Results

Flywire (NASDAQ:FLYW) posted its quarterly earnings results on Tuesday. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.26, FiscalAI reports. The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $233.25 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%.

Flywire Stock Performance

Shares of Flywire stock traded down $0.34 on Tuesday, hitting $19.15. 3,148,810 shares of the company traded hands, compared to its average volume of 1,837,674. Flywire has a 52 week low of $10.55 and a 52 week high of $20.24. The business has a 50-day simple moving average of $18.30 and a 200 day simple moving average of $15.55. The stock has a market capitalization of $2.33 billion, a P/E ratio of 73.66, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 12,156 shares of Flywire stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total value of $218,686.44. Following the sale, the general counsel directly owned 601,022 shares in the company, valued at approximately $10,812,385.78. The trade was a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David R. King sold 36,900 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total transaction of $676,008.00. Following the completion of the sale, the insider owned 202,404 shares in the company, valued at approximately $3,708,041.28. The trade was a 15.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 592,618 shares of company stock worth $11,230,341. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on FLYW shares. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. BTIG Research reaffirmed a “buy” rating on shares of Flywire in a report on Thursday, September 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Truist Financial raised their price target on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a report on Friday, August 14th. Finally, Seaport Research Partners restated a “buy” rating and issued a $22.00 price objective on shares of Flywire in a research report on Monday, August 17th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Flywire presently has a consensus rating of “Hold” and an average target price of $20.46.

About Flywire

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.