Flywire (NASDAQ:FLYW) Releases Earnings Results, Beats Expectations By $0.26 EPS

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

Flywire Price Performance

FLYW traded down $0.34 during midday trading on Tuesday, reaching $19.15. 3,166,157 shares of the company’s stock traded hands, compared to its average volume of 1,838,971. Flywire has a 52 week low of $10.55 and a 52 week high of $20.24. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 73.66, a P/E/G ratio of 1.21 and a beta of 1.35. The firm has a fifty day moving average of $18.30 and a two-hundred day moving average of $15.55.

Insiders Place Their Bets

In related news, major shareholder Voss Capital, Lp sold 172,973 shares of Flywire stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the completion of the transaction, the insider directly owned 369,168 shares of the company’s stock, valued at $7,084,333.92. This trade represents a 31.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David R. King sold 36,900 shares of Flywire stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total transaction of $676,008.00. Following the transaction, the insider owned 202,404 shares of the company’s stock, valued at $3,708,041.28. The trade was a 15.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 592,618 shares of company stock worth $11,230,341. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FLYW has been the topic of several recent analyst reports. Seaport Research Partners reiterated a “buy” rating and issued a $22.00 target price on shares of Flywire in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. Stephens initiated coverage on shares of Flywire in a report on Friday, October 16th. They issued an “equal weight” rating and a $20.00 price target on the stock. UBS Group reiterated a “neutral” rating on shares of Flywire in a research report on Thursday, September 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Flywire in a research report on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Flywire currently has a consensus rating of “Hold” and a consensus price target of $20.46.

Flywire Company Profile

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.