Flywire (NASDAQ:FLYW) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Flywire (NASDAQ:FLYW) announced its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04, Zacks reports. Flywire had a return on equity of 1.94% and a net margin of 1.27%.During the same period last year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis.

Flywire Stock Up 2.8%

Shares of FLYW traded up $0.38 during mid-day trading on Tuesday, reaching $13.81. The company’s stock had a trading volume of 3,385,013 shares, compared to its average volume of 2,384,365. Flywire has a 12-month low of $8.20 and a 12-month high of $23.40. The stock has a market cap of $1.69 billion, a PE ratio of 276.20, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.87 and a quick ratio of 1.87. The company’s 50 day moving average is $13.23 and its 200 day moving average is $11.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its holdings in shares of Flywire by 15.1% in the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock valued at $12,644,000 after acquiring an additional 175,007 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Flywire by 430.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock valued at $15,088,000 after purchasing an additional 1,046,544 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Flywire by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock valued at $11,792,000 after purchasing an additional 159,239 shares during the period. Palisade Capital Management LP boosted its position in shares of Flywire by 33.1% in the 2nd quarter. Palisade Capital Management LP now owns 601,831 shares of the company’s stock valued at $7,041,000 after purchasing an additional 149,819 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Flywire by 215.7% in the 2nd quarter. Squarepoint Ops LLC now owns 463,077 shares of the company’s stock valued at $5,418,000 after purchasing an additional 316,410 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

FLYW has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Flywire in a research note on Thursday, July 17th. They issued a “hold” rating and a $12.00 price target on the stock. Stephens reissued an “equal weight” rating and set a $13.00 target price on shares of Flywire in a research note on Monday, September 22nd. Citigroup raised Flywire to a “hold” rating in a research note on Thursday, October 23rd. Wall Street Zen raised Flywire from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Wolfe Research raised Flywire from a “peer perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research note on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.04.

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.