Flywire’s (FLYW) “Buy” Rating Reiterated at BTIG Research

Flywire (NASDAQ:FLYW)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $20.00 target price on the stock. BTIG Research’s price target suggests a potential upside of 10.93% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Truist Financial increased their price objective on Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Raymond James Financial reiterated an “outperform” rating and set a $22.00 target price on shares of Flywire in a research note on Wednesday, May 27th. New Street Research set a $16.00 price target on shares of Flywire in a report on Thursday, May 21st. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Finally, Wall Street Zen downgraded Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.77.

Flywire Stock Performance

NASDAQ FLYW opened at $18.03 on Tuesday. The stock has a 50-day simple moving average of $16.45 and a 200 day simple moving average of $14.14. Flywire has a twelve month low of $10.10 and a twelve month high of $18.98. The stock has a market capitalization of $2.23 billion, a PE ratio of 78.39, a P/E/G ratio of 1.85 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company’s revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. As a group, equities research analysts forecast that Flywire will post 0.28 EPS for the current fiscal year.

Insider Transactions at Flywire

In other news, COO Rob Orgel sold 178,980 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the completion of the transaction, the chief operating officer owned 959,061 shares in the company, valued at approximately $16,304,037. This represents a 15.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Peter Butterfield sold 6,528 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.08, for a total transaction of $98,442.24. Following the transaction, the general counsel directly owned 652,152 shares of the company’s stock, valued at $9,834,452.16. The trade was a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 410,391 shares of company stock valued at $6,700,493 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently added to or reduced their stakes in the stock. Voss Capital LP raised its holdings 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 worth $166,380,000 after buying an additional 2,080,202 shares in the last quarter. Jennison Associates LLC grew its position in Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after acquiring an additional 878,248 shares during the period. Wellington Management Group LLP grew its position in Flywire by 43.8% in the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after acquiring an additional 1,470,011 shares during the period. Mangrove Partners IM LLC raised its stake in Flywire by 2.8% during the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after acquiring an additional 82,383 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new position in Flywire during the second quarter worth $44,026,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.