Flywire Corporation (NASDAQ:FLYW) Receives $15.58 Average Target Price from Brokerages

Shares of Flywire Corporation (NASDAQ:FLYW) have earned a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.5833.

Several research firms recently commented on FLYW. Morgan Stanley upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $15.00 to $17.00 in a research note on Monday, March 2nd. Truist Financial cut their target price on shares of Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research note on Thursday, January 22nd. B. Riley Financial boosted their price target on shares of Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Royal Bank Of Canada boosted their price target on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th.

Insider Buying and Selling at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 9,009 shares of the business’s stock in a transaction 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 sale, the general counsel owned 532,962 shares of the company’s stock, valued at $6,955,154.10. The trade was a 1.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $10.99 per share, for a total transaction of $274,750.00. Following the acquisition, the insider directly owned 2,300,000 shares in the company, valued at approximately $25,277,000. This trade represents a 1.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in Flywire in the 4th quarter valued at $32,000. Covestor Ltd increased its holdings in Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of 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 purchasing an additional 2,497 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Flywire in the 3rd quarter worth about $67,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Flywire in the 2nd quarter worth about $119,000. Institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

NASDAQ:FLYW opened at $11.86 on Monday. The stock has a market cap of $1.44 billion, a P/E ratio of 118.61, a PEG ratio of 1.01 and a beta of 1.26. Flywire has a one year low of $8.20 and a one year high of $15.25. The company has a fifty day moving average price of $11.94 and a 200 day moving average price of $13.11.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating the consensus estimate of ($0.01) by $105.56. The firm had revenue of $157.54 million during the quarter, compared to analysts’ expectations of $144.96 million. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. As a group, equities research analysts anticipate that Flywire will post 0.14 EPS for the current year.

Flywire Company Profile

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.