Flywire (NASDAQ:FLYW) Upgraded by Zacks Research to Strong-Buy Rating

Flywire (NASDAQ:FLYW) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on FLYW. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 target price on shares of Flywire in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $16.00 in a research report on Thursday. Weiss Ratings raised shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Raymond James Financial reiterated an “outperform” rating and issued a $21.00 target price on shares of Flywire in a research report on Wednesday, May 6th. Finally, Citigroup boosted their target price on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $16.16 on Wednesday. The company has a market capitalization of $1.99 billion, a PE ratio of 70.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.30. The company’s fifty day moving average price is $13.51 and its 200 day moving average price is $13.38. Flywire has a 1 year low of $9.97 and a 1 year high of $18.05.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company’s revenue was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, equities analysts expect that Flywire will post 0.4 EPS for the current year.

Insider Buying and Selling at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 9,009 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total value of $117,567.45. Following the transaction, the general counsel directly owned 532,962 shares of the company’s stock, valued at $6,955,154.10. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total value of $819,500.00. Following the transaction, the chief executive officer owned 2,766,035 shares in the company, valued at approximately $45,335,313.65. This represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 114,511 shares of company stock valued at $1,859,470. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Mangrove Partners IM LLC acquired a new stake in shares of Flywire in the 3rd quarter worth $39,289,000. Wellington Management Group LLP raised its position in Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after purchasing an additional 2,129,514 shares during the period. Voss Capital LP lifted its stake in shares of Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after purchasing an additional 2,080,202 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after purchasing an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new position in shares of Flywire during the 3rd quarter worth $15,433,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.