Flywire Corporation (NASDAQ:FLYW) Receives $20.23 Average Target Price from Analysts

Flywire Corporation (NASDAQ:FLYW) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $20.2308.

A number of analysts have recently weighed in on FLYW shares. B. Riley Financial raised their target price on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of Flywire in a research report on Tuesday, July 21st. Morgan Stanley reissued an “overweight” rating and set a $22.00 price objective on shares of Flywire in a report on Wednesday, August 5th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Royal Bank Of Canada lifted their target price on Flywire from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 31st.

Insider Buying and Selling at Flywire

In related news, major shareholder Voss Capital, Lp sold 172,973 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 369,168 shares of the company’s stock, valued at $7,084,333.92. The trade was a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mohit Kansal sold 54,543 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.15, for a total transaction of $826,326.45. Following the completion of the transaction, the insider owned 504,320 shares in the company, valued at $7,640,448. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 658,283 shares of company stock valued at $12,085,319. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after purchasing an additional 1,081 shares during the last quarter. Essential Partners LLC boosted its holdings in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares during the last quarter. Nykredit A S acquired a new position in shares of Flywire during the 2nd quarter worth about $29,000. Global Retirement Partners LLC acquired a new position in shares of Flywire during the 4th quarter worth about $32,000. Finally, Daiwa Securities Group Inc. increased its stake 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 valued at $66,000 after acquiring an additional 2,497 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

Shares of FLYW opened at $18.55 on Thursday. The company has a market capitalization of $2.26 billion, a P/E ratio of 71.35, a PEG ratio of 1.19 and a beta of 1.30. Flywire has a one year low of $10.55 and a one year high of $19.73. The business’s 50 day simple moving average is $17.95 and its 200-day simple moving average is $15.26.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share 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 business had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. During the same period in the prior year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, sell-side analysts anticipate that Flywire will post 0.4 EPS for the current fiscal year.

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.