Flywire Corporation (NASDAQ:FLYW) Receives $20.23 Consensus Target Price from Brokerages

Flywire Corporation (NASDAQ:FLYW) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.2308.

FLYW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Truist Financial increased their target price on shares of Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 14th. Finally, B. Riley Financial raised their target price on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th.

Insiders Place Their Bets

In other news, insider Mohit Kansal sold 3,650 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $16.96, for a total value of $61,904.00. Following the completion of the sale, the insider directly owned 500,670 shares in the company, valued at $8,491,363.20. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Voss Capital, Lp sold 44,768 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $18.78, for a total value of $840,743.04. Following the transaction, the insider directly owned 11,069,321 shares of the company’s stock, valued at approximately $207,881,848.38. The trade was a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 658,283 shares of company stock valued at $12,085,319 in the last three months. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after purchasing an additional 1,081 shares during the period. Essential Partners LLC raised its position in shares of Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares during the last quarter. Nykredit A S purchased a new position in Flywire in the 2nd quarter valued at about $29,000. Global Retirement Partners LLC purchased a new position in Flywire in the 4th quarter valued at about $32,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Price Performance

Flywire stock opened at $18.55 on Thursday. Flywire has a 52 week low of $10.55 and a 52 week high of $19.73. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 71.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. The stock has a 50-day moving average price of $17.97 and a 200 day moving average price of $15.35.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. Research analysts anticipate that Flywire will post 0.4 EPS for the current fiscal year.

About Flywire

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.