Flywire Corporation (NASDAQ:FLYW) Stock Has Average Price Target of $20.23 According to Brokerages

Flywire Corporation (NASDAQ:FLYW) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.23.

Several equities analysts have issued reports on FLYW shares. Seaport Research Partners reaffirmed a “buy” rating and set a $22.00 price objective on shares of Flywire in a report on Monday, August 17th. Citigroup reissued a “neutral” rating on shares of Flywire in a report on Thursday, August 6th. Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. The Goldman Sachs Group restated a “neutral” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Flywire in a research report on Thursday, September 10th.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $17.58 on Monday. The company has a market capitalization of $2.14 billion, a PE ratio of 67.62, a P/E/G ratio of 1.12 and a beta of 1.35. Flywire has a twelve month low of $10.55 and a twelve month high of $19.73. The firm has a 50 day simple moving average of $17.86 and a 200-day simple moving average of $16.04.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. During the same period last year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts predict that Flywire will post 0.4 EPS for the current fiscal year.

Insider Activity at Flywire

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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 44,768 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $18.78, for a total transaction of $840,743.04. Following the completion of the sale, the insider directly owned 11,069,321 shares of the company’s stock, valued at $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 555,718 shares of company stock valued at $10,554,333 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. SkyView Investment Advisors LLC acquired a new stake in Flywire during the 2nd quarter worth approximately $527,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Flywire during the second quarter worth approximately $106,000. Squarepoint Ops LLC raised its stake in shares of Flywire by 158.4% during the second quarter. Squarepoint Ops LLC now owns 539,307 shares of the company’s stock worth $9,476,000 after purchasing an additional 330,622 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Flywire by 126.8% during the second quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock worth $71,000 after purchasing an additional 2,249 shares during the period. Finally, Waverly Advisors LLC lifted its holdings in shares of Flywire by 15.9% during the second quarter. Waverly Advisors LLC now owns 79,243 shares of the company’s stock worth $1,392,000 after purchasing an additional 10,870 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Company Profile

Flywire Corporation (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers, students, patients and other payers. Its platform supports domestic and international transactions, payment processing, invoicing, identity verification, reconciliation and related accounts-receivable workflows.

The company primarily serves the education, healthcare, travel and business-to-business sectors. Its solutions are used by universities and colleges to collect tuition and other fees, healthcare providers to manage patient payments, travel companies to process payments and businesses to facilitate invoicing and cross-border receivables.